Next Wednesday, February 6, the Chicago City Council will vote on a plan to increase the buyer transfer tax by 40%! Currently, Chicago home buyers pay $7.50 tax per $1,000 of value. On a $400,000 purchase this amounts to $3,000 (7.5 * 400). If the tax increase is approved, the tax on the same home will rise from $3,000 to $4,200 (10.5 * 400).
Help stop this tax increase by contacting your Chicago Alderman. Visit WrongTax.com to find out how.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
