The Bring Chicago Home Proposal Would Quadruple the Real Estate Transfer Tax. The proposed three-tiered
system discourages global investment by increasing transfer taxes on properties valued at $1 million and above.
While transfer tax on properties under $1 million will decrease slightly from .75% to .6%, properties over $1
million will see significant increases in the midst of market turmoil:
The Proposed Transfer Tax Increase Hurts Renters, Homeowners, and Local Neighborhoods
Record-High Office Vacancies Will Shift Property Tax Burden to Homeowners
The Proposed Tax is a Blank Check—Work with All Stakeholders to Develop a Thoughtful Plan
For More Information, contact Amy Masters at BOMA/Chicago at amasters@bomachicago.org or 312.870.9612.
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