Mayoral aides and some Council members have agreed to cut the proposed increase in half as talks continue. The largest chunk of new revenue — $128 million — will come from raising the personal property lease tax on cloud computing to 11%.

They're expected to vote down Mayor Brandon Johnson's $300 million property tax hike proposal. Mayor Brandon Johnson wouldn't commit on Tuesday when asked if he would support possible alternatives to his proposal to raise property taxes to close a nearly $1 billion budget gap for 2025.

Ahead of a Chicago City Council vote unanimously rejecting Mayor Brandon Johnson’s proposed $300 million property tax hike, local residents addressed the council and the mayor.