Mayor Brandon Johnson is now proposing hiking Chicago property taxes by $150 million, down from his original $300 million recommendation for 2025 that was unanimously struck down by the City Council last week.

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%.

Dozens of Chicago alderpeople are expected to vote down Mayor Brandon Johnson's proposed $300 million property tax hike proposal during a special city council meeting on Thursday. 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.