REALTORS® and property owners score wins against Home Rule and transfer taxes

Illinois REALTORS® and private property owners were winners at the polls on Tuesday when voters defeated a number of local referenda initiatives that would have raised the cost of buying or selling a home and opened the door to increased local taxation and regulation. The Illinois Association of REALTORS® (IAR) and local REALTOR® associations successfully lobbied against a real estate transfer tax in Midlothian, four Home Rule initiatives and urged voters to support a sales tax in Crestwood.

Midlothian voters reject real estate transfer tax

Voters said NO to a real estate transfer tax on property sales that could have cost sellers $5 on every $1,000 that their home was worth. In other words, if a home sold for $100,000, the seller would owe the village $500 under the proposed tax. DEFEATED

Crestwood voters approve a sales tax to lower property taxes

IAR campaigned in support of a sales tax increase in Crestwood and residents there agreed, voting to approve a 1 percent sales tax increase that will bring in millions of dollars in new revenue and allow the village to provide property tax rebates to homeowners. APPROVED

Home Rule defeated in four Illinois communities

Voters in Broadview (Cook County), McLean (McLean County), Shiloh (St. Clair County), and New Baden (Clinton and St. Clair counties) overwhelmingly voted down Home Rule initiatives in their communities. IAR and local associations campaigned to inform voters about the potential for communities to layer on additional taxes and regulations — without voter approval — with Home Rule powers. DEFEATED

2015-04-09T11:18:14-05:00April 9th, 2015|Government Affairs|0 Comments

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