Illinois REALTORS® today announced it is pleased that the Illinois General Assembly passed a comprehensive mass transit reform package that safeguards both the state’s transportation future and the dream of homeownership by excluding any new real estate taxes.

“A world-class mass transit system is essential for Chicago and the surrounding suburbs,” said Jeff Baker, CEO of Illinois REALTORS®. “Equally important is protecting housing affordability and ensuring that Illinois families are not burdened with additional costs that make homeownership harder to achieve.”

Earlier this year, Illinois REALTORS® launched a statewide consumer awareness campaign highlighting the potential harm of proposed real estate transfer tax increases that were being considered as part of transit reform discussions. The campaign underscored that higher taxes on real estate transactions would stifle economic growth, hinder mobility, and place unnecessary financial pressure on homeowners and prospective buyers.

Illinois REALTORS® commended House Speaker Emanuel “Chris” Welch and Transit Reform Working Group Co-Chairs Rep. Eva-Dina Delgado and Rep. Kam Buckner for their leadership and understanding of the housing market’s role in sustaining local economies.

“Raising real estate taxes robs our towns and cities of economic growth,” Baker said. “We’re grateful that legislative leaders listened to our members and found alternative funding solutions to sustain Illinois’ vital mass transit systems without jeopardizing housing affordability.”