In total, the levy hike is expected to net an additional $10.6 million from the city’s so-called “sin taxes” on beer, wine and liquor sales.

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%.

The proposed hike comes as Mayor Brandon Johnson and alders work to balance a staggering deficit in the 2025 budget.

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.