The Chicago School Board announced that two revenue referendums will appear on the November 2026 ballot. Voters will decide on a statewide millionaires tax and a city‑level penalty aimed at owners of vacant properties, both intended to generate additional funding for the public school system.
The board’s decision places the proposals directly in the hands of Chicago residents and Illinois voters. The millionaires tax would apply across the state, while the vacancy penalty would be levied by the city on property owners whose buildings remain unoccupied for a specified period. Both measures are framed as new sources of revenue to support school operations and programs.
Board members described the ballot measures as a way to solicit public input on financing options amid ongoing fiscal pressures on the district. The board’s composition remains divided on how best to address the shortfall in school funding, and the addition of these referendums reflects a broader effort to explore multiple avenues for raising money.
City officials and state legislators have been monitoring the proposals, noting that the outcomes could influence future budgeting decisions for education. If approved, the millionaires tax would add to the state’s general revenue pool, while the vacancy penalty would provide a localized stream of funds earmarked for schools.
The November ballot will be the first opportunity for Chicago voters to weigh in on these specific funding mechanisms. The board plans to provide informational materials ahead of the election to explain how each measure would function and its projected impact on school budgets.
The move comes as the board continues to grapple with financing challenges, seeking to balance the need for additional resources with the political realities of tax and penalty proposals. The upcoming vote will determine whether either or both measures become part of the state and city revenue framework for education.
The outcome of the referendums will shape the financial landscape for Chicago schools in the coming years, potentially setting a precedent for how municipalities address vacant property issues and high‑income taxation as tools for public education funding.