How much would transfer tax change in Chicago?

Chicago Mayor Brandon Johnson proposes changing the 0.75% real estate transfer tax to marginal rates of 0.6% for value under $1 million, 2% for $1 million to $1.5 million in value and 3% for value over $1.5 million. Selling a property for $1 million would see a $1,500 tax cut, a $1.5 million sale would see a $4,750 increase. Selling for $2 million would see a $16,000 tax increase.