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.

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,

In a special meeting, Chicago's City Council voted unanimously to remove the mayor's proposed $300 million property tax increase from the 2025 budget plan. Why it matters: The removal of the tax hike will force Mayor Brandon Johnson to make hard decisions on other ways to generate more revenue or where to make cuts to city services.

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.

Chicago City Council unanimously rejected Mayor Johnson's proposed $300 million property tax increase without debate.

Chicago alderman Anthony Napolitano reacts to Windy City residents outraged over Mayor Brandon Johnson's proposed massive tax hike to cover the cost of the migrant crisis.