Cook County voters heading to the polls this election day will see more than just candidates — they’ll also see questions, including one about a so-called “millionaire tax.”
Titled the Millionaire Amendment for Property Tax Relief and Education, the question asks if Illinois should enact a 3% income tax surcharge only on millionaires.
Then, 50% of the revenue from the surcharge would provide property tax relief for residential and commercial taxpayers. Another 50% would improve state funding for public education.
The idea aims to lower property tax bills for homeowners, but it doesn’t come without questions.
Before such a tax could even happen in Illinois, the state would have to amend its constitution.
In April, a report from the Illinois Economic Policy Institute estimated the tax would affect about 41,000 people statewide. The surcharge would generate $3.8 billion in its first full year and $4.2 billion a year by 2030, according to the report. In addition, the report found the state could deliver $1,500 rebates to three million homeowners and cut property tax bills by up to 20%.
However, opponents argue a millionaire’s tax could hurt business owners and individual taxpayers, even those who are not millionaires.
The “millionaire tax” isn’t the only question voters will be asked at the polls this Election Day.
Chicago voters will face numerous ballot questions, including two from Chicago Public Schools. Those voters in the district will be asked if owners of long-term vacant or undeveloped property should pay an additional fee to support CPS, and voters will also be asked if Illinois should use revenue from a so-called “millionaires tax” to help fund schools.
City voters will also be asked three advisory questions, including whether the city should reintroduce the use of gunshot detection technology, whether the city should develop a permanent festival space to use in place of Grant Park and Douglass Park, and if the city should try to recover financial losses incurred during Operation Midway Blitz, an immigration enforcement operation undertaken by the Trump administration.
Term limits will also be on the ballot in numerous communities, including in Alsip, Calumet Park, Crestwood, and Markham.
In Orland Township, voters will not only be asked whether they should have the right to propose ordinances via voter petition, but also to evaluate whether those ordinances should become law.
In addition, voters in Community School District 300, which includes communities in Cook, DeKalb, Kane and McHenry counties, will be asked to authorize more than $355 million in bonds to build a new Career and Technical Education Center, as well as implementing repairs at various school buildings.
East Maine School District will seek bonds of approximately $120 million to repair and improve security in schools, while Moraine Valley Community College will seek $115 million in bonds to build and repair buildings for automation, engineering, fire science, EMS services, automotive repair, HVAC and welding programs.
Township High School District 214, which includes multiple high schools in Buffalo Grove, Elk Grove and other communities, will seek $295 million in bonds to repair and equip school buildings.
Finally, Evergreen Park voters will be asked to approve $68 million in bonds for a new middle school, and Skokie Park District residents will be asked to approve $53 million in bonds for a new rec center and additional recreational facilities.
See which questions are on your ballot using this tool.
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