Mar 13 2008
More Chicago Taxes
Another Chicago Tax… and you can’t move away from this one
Chicago properties will have to pay an additional real estate transfer tax. It amounts to $3 per thousand off of the selling price, and billed to the seller. It’s billed to the seller because, as the Chicago City Council discussed last night, the real estate buyer already pays $7.50 per thousand to the city.
These tax dollars will be directed to the Chicago Transit Authority (CTA).
(source: Gary Washburn, “Alderman agree on transfer tax” Chicago Tribune: 3/13/08… can’t find hyperlink)
One response so far
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Ha. So it’s come down to this. Our taxes are getting so high that its naturally pushing home-owners to move to more tax-friendly areas. So what’s the solution? Tax them if they try and leave.
Desperate.