An appeals court restored the so-called “mansion tax” referendum that Chicago voters will be voting on for their March 19 election.
NBC Chicago reported that the Illinois Appellate Court reversed a circuit court decision that voided the referendum’s appearance on the ballot, arguing the court lacked the jurisdiction to make that decision and could be seen as “interfering with the legislative process.”
The circuit court ruled that the referendum improperly asked voters to vote on three separate issues pertaining to the tax, rather than present a single question for a yes or no vote.
Under the “mansion tax” initiative, either residential or commercial properties sold for $1.5 million or more would be forced to pay a 3% transfer tax, which is four times the current rate. According to the text of the referendum, funds generated from the increased taxes would go toward initiatives aimed at combating houselessness in the city.
However, the referendum would also cut that tax to $3 for every $500 of the transfer price on properties sold for less than $1 million – which would impact nearly 94% of Chicago’s properties.
The votes that were already cast on the referendum during the early voting process will be processed as part of the overall tally. If the appeals court did not reverse the lower court decision, the early votes would have been voided.
;
