Brandon Johnson defends $300M property tax hike ahead of budget hearings – WBBM (Chicago)

“Over the last two years, the city has experienced the loss of a pretty substantial revenue source, known as the Personal Property Replacement Tax,” Budget Director Annette Guzman said. “That is a tax that the state now collects on behalf of municipalities. It is a tax on corporations, and over the last year we’ve lost about $160 million a year.”