69% of Suburban Cook County Voters Back Proposed Millionaire Tax

Suburban Cook County voters are showing heavy support for a proposed 3% state tax on income exceeding $1 million. As of 8:30 p.m. on November 4, 2026, nearly 69% of reported votes in the suburban precincts favored the measure. In the city of Chicago, support was higher, with 78% of early ballots cast in favor.

The referendum asks voters whether the state of Illinois should consider enacting this additional tax. The stated goal of the proposal is to halt increases in property taxes or potentially roll back recent hikes. The amendment text does not create the tax immediately but signals voter intent for a constitutional change.

The path to a new income tax in Illinois is lengthy. All matters related to income tax in the state require a constitutional amendment. State lawmakers must act, and voters statewide must subsequently approve the change. Earlier in 2026, efforts to pass a joint resolution regarding this tax failed in Springfield.

An April report from the Illinois Economic Policy Institute estimated the tax would affect approximately 41,000 people statewide. The report projected the surcharge would generate $3.8 billion in its first full year. By 2030, annual revenue is estimated at $4.2 billion.

According to the same report, the state could use the revenue to deliver $1,500 rebates to three million homeowners. The report also suggested property tax bills could be cut by up to 20%. Opponents of the measure argue the tax could harm business owners and individual taxpayers, including those who do not earn over $1 million.

With nearly one-quarter of precincts reporting as of the evening deadline, the results indicate a strong preference for the additional income tax in the suburban areas of Cook County. The final outcome will determine whether state lawmakers pursue the constitutional amendment process again.