Posted on 09/12/2023 3:55:25 PM PDT by Libloather
Chicago's mayor Brandon Johnson is pushing a 'mansion tax' on sales of homes of more than $1 million, as his administration continues to push higher tax on households earning over $100,000.
The newly elected mayor, who took over from his disastrous predecessor Lori Lightfoot in May of this year, wants to push a hike in taxes in order to fight homelessness in the city.
Allies of Mayor Johnson, 47, have also announced plans to push a $12-billion plan for the city titled 'First We Get the Money'.
The plan, seemingly named after a quote from the 1983 film Scarface, aims to build a 'more just' Chicago by slashing funding for the police and implementing new taxes in the city.
Johnson believes people that own properties worth $1 million in the third-largest city in the U.S. are 'rich, and should pay if they sell those homes'.
The plan, named 'Bring Chicago Home' is a compromise from his previous plan that would have seen the transfer-tax rate triple from 0.75 percent to 2.65 percent.
According to the National Review, Johnson is now proposing a three-tier progressive-transfer rate.
This means that sales below $1 million would see the tax cut from 0.75 percent to 06. percent, while property owners who sell their homes for between $1 million and $1.5 million would see tax rates rise from 0.75 percent to 2 percent.
Property sales of $1.5 million and above would see their tax rate quadrupled to three percent of the transfer amount.
A search of real estate sites by DailyMail.com showed that it was difficult to find substantial sized properties for over a million dollars, with the majority being condos or small townhouses.
According to Midwest Real Estate Data seen by Chicago Business, there were 2,391 homes sold for $1 million or more...
(Excerpt) Read more at dailymail.co.uk ...
obama’a home(s)?
I like it.
There is only one way to deal with gangster government.
Go for it. It’s what they wanted when they voted.
Better get out while the getting’s good.
Has Michael Jordan sold his home yet?
ROFLMAO - !!! Good one !
There should be lots of liberal white Chicago voters gnashing their teeth right now.
Good.
“First we get the money.”
lol... and it’s real.
And just in time he will have the illegal immigrant Cartel Police to help collect. Those cartel thugs have a way to persuade.
Tax the haves and keep it.
Socialism 101
Report 1: “First We Get The Money”
Report 2: “Then We Get The Power”
Report 3: “Then We Get The Women”
Wha? A 2000 sq foot house in a decent n hood on LI goes for a mil
No. But it's not in Chicago.
High-priced government workers cost taxpayers in Illinois $10 billion a year, with municipal managers in areas surrounding Chicago reaping the most benefits.
https://patch.com/illinois/chicago/public-employees-make-12-3-illinois-workforce-study-finds
EXCERPT:
According to OpenTheBooks.com, Illinois has 63,000 public employees making more than $100,000, costing taxpayers $10 billion. These government workers range from auto pound supervisors to corrections nurses to junior college presidents and more. One of the most lucrative government fields is that of village and city managers, many of whom out-earn every U.S. governor.
The 10 highest-paid village and city managers in Illinois are located in Cook County and the collar counties of DuPage, Kane, Lake, McHenry and Will. These local officials are all are making more than $200,000 per year.
The village of Glenview has the highest-paid village manager at $297,988.45 per year. Grayslake, Lake Forest, Libertyville, Northbrook, Rosemont, Palatine, Schaumburg and Northfield round out the top 10, with city and village managers in those locales all making between $230,000 and $265,000. Rosemont was on the list twice, with two village managers making more than $245,000.
This is on top of the comparatively high salaries many Illinois mayors take in. For example, Rosemont Mayor Brad Stephens makes $260,000 per year, while San Francisco Mayor Ed Lee makes $289,000 annually and Los Angeles Mayor Eric Garcetti has a salary of $238,000. Houston Mayor Sylvester Turner makes $235,000 per year.
Rosemont taxpayers are on the hook for more than $750,000 for just three executive positions. In addition to Brad Stephens’ salary, the village of 4,200 has two village managers who both make six figures. Rosemont Village Manager Christopher Stephens – who is also Brad Stephens’ nephew – makes $249,231.46 per year, and Rosemont Village Manager Patrick Nagle makes $245,000.
Bolingbrook Mayor Roger Claar has an annual salary of roughly $150,000. Bolingbrook is partially located in DuPage County, where taxpayers are paying the second highest property taxes in Illinois and the 27th-highest in the country. Lake County – where village officials in Grayslake, Lake Forest and Libertyville are pulling in more than $200,000 per year – has residents faced with the highest property taxes in the state, and the 21st-highest in the nation.
Collar counties McHenry, Kane and Will rank fourth-, fifth- and sixth-highest in the state, respectively, and all are among the country’s top 35 counties for the highest median property taxes. Cook County residents are saddled with slightly lower property taxes, though still 67th-highest in the country.
These municipalities with high-priced executives also receive state aid through the Local Government Distributive Fund, or LGDF. Grayslake, for example, with a village manager making more than $264,000, received more than $2.1 million from state taxpayers in fiscal year 2016. Northbrook, with a more than $250,000 village manager, received more than $3.3 million. Schaumburg, with a village manager receiving nearly $240,000, received $7.5 million in LGDF funding.
The LGDF distributes money not based on need or any particular purpose, but simply based on each local government’s share of the statewide population. This sends state taxpayers’ money to locales that may not need it and also encourages local overspending – such as on high pay and benefits for local government employees.
Ending LGDF for populations over 5,000 could save the state $1.75 billion each year, and rein in spending that keeps local taxes so high. Additionally, local government and school district consolidation efforts could reduce costs and ease the burden on overtaxed residents in the Chicagoland area.
In the meantime, as Illinois taxpayers struggle with the one of the highest overall tax burdens in the country, and deal with personal income growth that lags behind neighboring states, government officials should take the initiative in exercising fiscal restraint and cutting the cost of government by reducing their own salaries. Taxpayers in Cook County, the collar counties and across the state of Illinois have been forced to bear the burden for too long.
Brazen thieves.
Sometimes you gotta give it to them(voters) the hard way
It would be worth it to get the F out.
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