Cook County is putting a proposed millionaire tax, which would levy an additional income tax on high earners, to a resident advisory vote during the November 3 midterm elections.
The Cook County Board of Commissioners voted in July to hold an advisory referendum on a state-level tax reform package aimed at easing property tax burdens on residential and commercial properties while expanding public education funding. The voting results carry no legal binding and will not directly lead to new taxes or immediate tax reforms.
The ballot question asks voters whether they support imposing a 3% additional income tax on annual incomes exceeding $1 million, with half of the revenue dedicated to property tax relief for property owners and the other half allocated to expanding public education financing.
This vote serves to gauge public sentiment on the millionaire tax and convey opinions to the state legislature. Actual implementation would require a state constitutional amendment process.
Separate initiatives are underway in Chicago as well. The Chicago Board of Education voted in August to include two non-binding advisory questions in the November election. One proposes using millionaire tax revenues to expand public education support, while the other suggests levying additional surcharges on long-term vacant or undeveloped commercial and investment properties to fund Chicago Public Schools. Neither question officially establishes new taxes or fees.
Other counties are advancing local advisory referendums addressing regional issues. Lake County is placing a 1% sales tax increase proposal on the ballot to secure funding needed for school facility upgrades, school safety, and mental health support. The revenue will be distributed to public school districts based on student enrollment, with unprocessed groceries, prescription drugs, and over-the-counter medications exempted from taxation. This measure could lead to actual tax implementation if it receives majority approval in the referendum.
In McHenry County, two advisory votes will be held regarding the expansion of county government home rule and the implementation of an administrative officer system, alongside restoring local government regulatory authority over solar and wind energy facilities and housing developments.
Illinois previously pursued a graduated income tax constitutional amendment in 2020 applying differential tax rates based on income levels, but it was defeated in a statewide referendum with 53.3% voting against and 46.7% voting in favor, halting its introduction.
