Latest Post

State law requires home rule municipalities to obtain voter approval before they can impose or increase a real estate transfer
tax. In November 2023, the Chicago City Council passed a resolution to place a referendum on the March 2024 ballot to modify the City’s real estate transfer tax. The ballot question proposed to decrease real estate transfer
taxes for properties sold for less than $1,000,000 and increase transfer taxes
for properties sold for more than $1,000,000.

A collection of local business and real estate organizations
challenged the proposed ballot question, arguing the proposal violated state statute and the Illinois Constitution. Plaintiffs argued that

Continue Reading Appellate Court Declines to Decide Challenge to Ballot Proposal