Back in February I wrote about the Chicago City Council’s vote to increase the buyer transfer tax on homes (see “Tax to Buy a Chicago Home Increases 40% April 1st – No Joke!“). The tax increased, but fortunately for buyers, sellers ended up paying the increase.
In a last minute ammendment, the council voted for home sellers to pay the $3/$1,000 value increase. So Chicago home buyers will continue to pay $7.50/$1,000 value, while sellers have one more closing cost to pay.
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ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale. Fran has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
