Mayoral aides and some Council members have agreed to cut the proposed increase in half as talks continue. The largest chunk of new revenue — $128 million — will come from raising the personal property lease tax on cloud computing to 11%.

They're expected to vote down Mayor Brandon Johnson's $300 million property tax hike proposal. Mayor Brandon Johnson wouldn't commit on Tuesday when asked if he would support possible alternatives to his proposal to raise property taxes to close a nearly $1 billion budget gap for 2025.

The overwhelming vote was largely symbolic. Negotiations to reduce or eliminate the property tax hike and replace it with a mix of new revenue and reprogrammed federal pandemic relief funds began last weekend.

Mayor Brandon Johnson is all but giving up on his proposed $300 million property tax hike before aldermen kill it, and pushing them to find other revenue in its place to avert layoffs. Johnson’s administration is combing over alternatives to the tax jump after members of the City Council scheduled a special meeting in the hopes of voting it down.

The City Council will take a vote Thursday on Mayor Brandon Johnson’s proposed $300 million property tax hike, announced when he unveiled his $17.3 billion city budget for 2025 last month. That means the mayor could make it official that he’s essentially giving up on his proposed property tax hike for city residents,

The Chicago City Council emphatically voted down Mayor Brandon Johnson’s plan to hike property taxes by $300 million Thursday, creating a yawning hole in the city’s 2025 budget that must now be closed.

The mayor and council members are now negotiating hikes to taxes and fees on alcohol, streaming services and garbage collection, among others.

This week’s topics include alders rejecting Mayor Johnson’s proposed $300 million property tax hike, President-elect Donald Trump’s latest appointees to his cabinet, and more. Copyright 2024 Nexstar Media,