Mayor Johnson drops property tax hike, furloughs in new budget proposal, sources say

CHICAGO - Mayor Brandon Johnson's fourth draft of the city's 2025 budget will no longer include a property tax hike or unpaid furlough days for city employees, according to City Hall sources. 

The new draft comes after the mayor's previous budget proposal failed to secure enough votes from the Chicago City Council to pass on Friday.

Johnson had the weekend to secure 26 votes for a balanced budget.

RELATED: Mayor’s $68M tax hike budget rejected, city council hits pause until Monday

The previous proposal included a $68 million property tax hike, along with other taxes and fees.

To address the $68 million gap, City Hall sources say the mayor is relying on the following measures:

• $40 million: Line of credit, short-term loan
• $10 million: Special event reimbursements
• $5 million: Savings on gas and electricity
• $1 million: Staff cuts across several departments

The city council will reconvene Monday to review the mayor's fourth budget proposal.

This is a developing story. Further updates will be provided as they become available.