Chicagoans who show up at the polls in March will be asked to authorize a fundamental change in tax policy to confront the burgeoning problem of homelessness.
The City Council’s Rules Committee made it happen Tuesday by putting a binding referendum on the ballot asking Chicago voters to authorize the City Council to quadruple the city’s real estate transfer tax rate on sales over $1.5 million and more than double the tax rate on transactions above $1 million.
