Chicago’s Revenue Surpasses Estimate on Cloud Tax, Home Sales

Chicago’s revenue exceeded estimates by 7.2% in the first two months of this year thanks to taxes on cloud storage and home sales, collections that will help a city that’s struggling with annual deficits.

The city collected $365.7 million in revenue during this period, according to a report on its website. That represents a turnaround from January, which showed revenue 4.2% below forecast.

Any additional cash will be helpful for Mayor Brandon Johnson after he closed a roughly $1 billion deficit for this year and previously estimated a similar shortfall for next year. The budget for 2025 that ...