"Bring Chicago Home: Real Estate Transfer Tax Referendum Results and Mayor's Vow to Continue Fight"

The "Bring Chicago Home" real estate transfer tax referendum, which aims to change how real estate transfer taxes are assessed in the city, has not yet been called, with 54% of voters opposing it and 46% in favor. The proposed measure would have implemented a graduated tax rate, with funds allocated to addressing homelessness. Supporters argue it would benefit residential properties, while opponents fear negative impacts on commercial real estate. The outcome is seen as a political blow to Mayor Brandon Johnson, who supported the ordinance, and if approved, the Chicago City Council would need to finalize and approve the measure.