Rumors have circulated this year that United Airlines is considering moving their Chicago headquarters – and their 5,000 employees – to Denver. Chicago residents and businesses packing up and leaving is not new, but the real estate tax hike on the March 19 ballot would accelerate it.
Chicago voters are set to decide a referendum next week on allowing the city to hike the real estate transfer tax on properties over $1 million – tripling the rate on properties over $1.5 million. It has been misleadingly billed as a “mansion tax” to suggest it will hit the city’s wealthiest residents and the impact on the average Chicagoan would be modest.
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