Yesterday, a proposed resolution to the real estate transfer tax was introduced to City Council that would raise the real estate transfer tax on properties over $1 million. In October, City Council will vote on whether the resolution will end…
A CLOSER LOOK AT THE 2023 BUDGETS The city of Chicago reviewed a $16.4 billion budget. The budget did not include a property tax increase, although it was considered. Overall, there will be a property tax levy of $7.13 billion.…
Earlier this January, the Chicago Association of REALTORS® and Illinois REALTORS® invited each candidate to complete a questionnaire to better understand their positions on the following real estate hot topics: Accessory Dwelling Units Building code Rent control Down payment assistance…
Currently, property taxes in the city of Chicago are tied to inflation rates, which means you’ve likely seen an increase in your taxes in your most recent bill. By supporting Ordinance 2498, we can stop the tie between property tax…
Over the last few months, the Chicago Association of REALTORS® Government Affairs team has been working to educate City Council members about the negative ramifications of an increase in the transfer tax. On Monday, November 14, there was a scheduled…