Please OPPOSE Legislation to Increase the State Real Estate Transfer Tax
Recently, two bills increasing the state transfer tax were introduced in the Illinois General Assembly. The Home Builders Association of Illinois is opposed to both HB 728 and SB 445.
These bills increase the state's tax on the sale and transfer of real estate property on a graduated basis. The tax could increase from $1 per $1000 up to $10 per $1000, depending upon the sale price of the property. The money generated by the real estate transfer tax is dedicated to open space land acquisition and affordable housing. Both of these funds were recently swept by the Governor for other state budgetary purposes; using your property taxes to fund general state operations.
In addition, in 2005, the Home Builders Association of Illinois supported a $10 fee on the recording of all property transfers. That revenue is dedicated to affordable rental housing. Now, the same housing advocates are back with their hands in your pockets.
Contact your legislator today to oppose HB 728 and SB 445!
Click the following link to take action on this issue.http://votervoice.net/Groups/HBAIL/?Screen=Alert&IssueID=9792
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