Ald. Jason Ervin (28th), the Budget Committee chair, agreed with Ald. Pat Dowell (3rd), Finance chair, that the Council needs to reinstate the automatic escalator imposed by former Mayor Lori Lightfoot that would lock in annual property tax increases to match the rate of inflation.

The city of Chicago has a massive $1.1 billion budget gap to fill for 2026, and with Mayor Brandon Johnson promising not to once again pitch a property tax hike, the mayor said Tuesday he's looking at creative ways to raise tax dollars.