Voting YES on Ballot Question 1 will fund housing and ensure that big corporate landlords pay their fair share.
JOIN THE MOVEMENT
Chicago’s time is now. Become a part of the coalition working towards real solutions to address homelessness for thousands of families across our city.
The coalition aims to restructure the Real Estate Transfer Tax (RETT), a one-time tax on properties when they are sold to create a substantial and legally dedicated revenue stream to provide permanent affordable housing for people experiencing homelessness.
OUR PROPOSAL
Restructure the Real Estate Transfer Tax (RETT), a one-time tax paid when a property is sold. A property sold for less than $1 million would see a decrease. Properties sold for more the $1 million would see an increase.
Nearly 93% of properties would see a decrease. The increase only applies to about 4.2% of properties sold every year.
The new tax is estimated to generate at least $100 million every single year, and be legally dedicated to programs that alleviate homelessness, including assistance for children, veterans, and those fleeing gender-based violence.