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Chicago City Council

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City Council Finance Committee Approves $76.5 Million Property Tax Hike, As Mayor Lori Lightfoot's 2022 Budget Plan Passes First Test

The Finance Committee voted 19-12 to approve the property tax increase, which includes a $22.9 million automatic tax hike tied to the consumer price index, which aldermen authorized last year as part of the 2021 budget plan; another $25 million to help fund the mayor's $3.7 billion capital infrastructure plan; and $28.6 billion in tax revenue that will be collected from new property.

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