Call and write to your legislator today and urge them to vote against the proposed Real Estate Transfer Tax for the RTA.
Senate Bill 572, as amended includes the authority for the Regional Transportation Authority (RTA) to impose a real estate transfer tax of $3 per $1,000 within the city of Chicago WITHOUT VOTER APPROVAL.
The Illinois Association of REALTORS and the Chicago Association of REALTORS STRONGLY OPPOSE this proposal and urge you to contact your Representative and Senator and urge them to REJECT this proposed transfer tax increase.
It is very troubling to give this statutory authority to levy a real estate transfer tax to a special taxing district governed by an APPOINTED Board.
This is ANOTHER LAYER OF TAXING authority on property owners in Chicago where a very high home rule municipal real estate transfer tax is already in place ($7.50 per $1,000 paid by the buyer) in addition to the State and county real estate transfer tax (combined $1.50 per $1,000 on the seller).
Illinois law also is very clear in that VOTER INPUT is required to impose a new or to increase an existing home rule real estate transfer tax. This proposal contravenes that public policy.
As you are well aware, the real estate transfer tax is a "hidden" property tax because most property owners are not aware of it until they buy or sell property.
SB 572 is sponsored by Representatives Julie Hamos, Paul Froehlich and Kathy Ryg and Senator John Cullerton and Ira Silverstein. To send an e-mail to your Senator and Rep., follow the prompts below. To call your state legislators, go to www.ilga.gov and look in the "Members" section for your legislators' Springfield phone numbers (the one with a 217 area code)
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