The mayor said the tax increase is needed to fill a nearly billion-dollar budget gap.
But, 31 aldermen have called that special meeting, to try to derail the proposal and come up with a new budget before the end of the year.
SEE MORE: Johnson's CPD budget could threaten progress on reforms required under court-ordered consent decree
Alderman Ray Lopez is one of them.
"If two thirds of the City Council says no to a property tax increase, there's no excuse for us to do this entire two-week exercise through December, only to have to restart it again simply because we were not able to pass the budget," Lopez said.
Budget hearings are underway at City Hall, and Council members are in the process of scrutinizing the mayor's proposed spending plans for the various city departments.
But, the overarching concern is about Johnson's call to raise property taxes.
"I'm standing with my community. My community have reached out to me via email, calls, asking not to support a $300 million property tax increase," 30th Ward Ald. Ruth Cruz said.
Alderwoman Emma Mitts met with the mayor Thursday.
"I think it really shook 'em up. I can tell you that much. I saw some shakeups before I even left City Hall yesterday when the letter went out," Mitts said.
Mitts said many of her residents are still recovering from the floods of two years ago, and can't afford a tax hike.
She said the mayor expressed a willingness to scale back from his original plan.
"I guess it wasn't going, it won't be that number, probably not the $300 million, may be looking for ways to reduce that," Mitts said.
But the mayor had not shared that news with his Budget Committee chairman.
"Council has the ability to amend that. However, we have to amend both sides. We just can't amend, reduce the revenue and not reduce the expenses, because that puts us in an unbalanced situation," 28th Ward Ald. Jason Ervin said.
Council members are in near revolt over raising property taxes.
"And so now it's us organized to figure out where do we get their money from? It's $55 million in rainy day funds. It's hurricane in this moment. And so, I mean, we got a tsunami going on," 20th Ward Ald. Jeanette Taylor said.
"And I think we need to do more to look at efficiencies, cuts, before we were to go back to the taxpayers," 19th Ward Ald. Matt O'Shea said.
The meeting set for Wednesday may not solve the property tax impasse, but it has put the mayor's office on notice that over half the aldermen are demanding changes in the budget.