Young voters trying to “do good” should be wary of the real estate transfer tax hike: It’s not going to deliver on Brandon Johnson’s promises.
Mr. Beef, where exteriors for the show “The Bear” were filmed, on North Orleans Street on Dec. 19, 2022. The property value for the Chicago staple is valued at $1,507,060.
The flashy name leads voters to believe it will just increase the real estate transfer tax on “mansions” worth more than $1 million. But relatively few houses sell at that price. It will be commercial businesses, which by a 9-to-1 ratio, according to a, account for the value of transactions of more than $1 million, that will bear the brunt of the tax hike.
Despite the proponents’ messaging, this tax won’t soak the rich. Instead, it will add a financial deterrent to new business startups in a city desperately facing
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