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%.

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.

The overwhelming vote was largely symbolic. Negotiations to reduce or eliminate the property tax hike and replace it with a mix of new revenue and reprogrammed federal pandemic relief funds began last weekend.

Chicago alderman Anthony Napolitano reacts to Windy City residents outraged over Mayor Brandon Johnson's proposed massive tax hike to cover the cost of the migrant crisis.

After the Chicago City Council unanimously rejected a $300 million dollar property tax hike, there appears to be a new solution. Higher taxes on streaming services and cloud computing would offset lowering the property tax hike.