Tag Archives: Chicago transfer tax

In ‘shocker’ of a vote, Chicago transfer tax hike headed for defeat

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The key policy item for first-term Mayor Brandon Johnson would have raised an estimated $100 million through a tax hike on real estate sales. Continue reading →

Illinois Supreme Court says Chicago tax hike can move ahead

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A fiscal watchdog also released a report warning that Chicago leaders may not have studied the issue thoroughly before putting it on the March 19 ballot. Continue reading →

Appeals court rules Chicago transfer tax hike can move ahead

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Voters are set to decide on March 19 whether they want to quadruple the tax buyers pay on real estate purchases above $1.5 million. Realtors say it amounts to a secret tax and rent hike. Continue reading →

Illinois Realtors raises $1M war chest to fight Chicago tax hike

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Chicago voters are set to decide whether to quadruple the tax buyers pay on residential and commercial properties in the city. Illinois Realtors plans to lead the fight. Continue reading →

Chicago landlord, business groups sue to block transfer tax hike

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Voters are set to decide whether to increase the tax paid on real estate sales above $1M. Landlords and business groups say referendum violates the state constitution. Continue reading →

Mr. Beef is a mansion? Under Chicago’s proposed tax, yes

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Since its appraised value is over $1 million, the iconic Italian beef stand would incur significantly higher transfer taxes in a sale if Mayor Brandon Johnson’s proposed “mansion tax” passes next year. Continue reading →

Chicago voters to decide whether to hike real estate transfer tax

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Proponents said the measure would raise $100 million per year. Chicago Realtors said the tax was volatile and not a reliable funding stream. Continue reading →