City primary voters to decide on 'Bring Chicago Home' tax referendum

A rare binding referendum is on the ballot for Chicago voters. It is called the "Bring Chicago Home" tax.

The referendum would increase a one-time tax on property sales over a million dollars and decrease it for property valued under that amount.

Money raised would then be used to help Chicago's homeless population.

"We're asking Chicago to get ready to vote for the future, a future where children are not sleeping on trains, where parents are not having to struggle, whether or not they have to pick up their clothes and move from a shelter, and wake up in places that they do not know," said Alderman William Hall, 6th Ward.

But is there a downside to the referendum? The Illinois Realtors are rolling out an ad against Bring Chicago Home. The CEO says if it passes, it would have an impact on renters, homeowners, and even small businesses.

"It does not matter how much your property is worth, it doesn't matter if it's a business or a home. It doesn't matter in what neighborhood you live in. This will increase your cost of living regardless of where you are or regardless of how much you make," said Jeffrey Baker, CEO of Illinois Relators.

The Bring Chicago Home referendum will appear on the primary ballot on March 19.