CHICAGO — Earlier this year, Los Angeles hiked a transfer tax imposed on pricey real estate purchases, a move designed to generate revenue to fund homeless services. The measure, which hits both commercial and residential properties, bears a striking resemblance to the “Bring Chicago Home” proposal up for a citywide vote next March, and has so far failed to fill Los Angeles coffers. Luxury .
Bring Chicago Home proposal aims to boost funding for homeless services But a similar measure in LA slowed real estate sales chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.
BOMA/Chicago signs new office lease on LaSalle Street – REJournals rejournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rejournals.com Daily Mail and Mail on Sunday newspapers.
The Chicago City Council has approved a resolution (O2023-0004166) that will ask city voters to decide on whether to increase the city's transfer tax in a referendum in March 2024.
It’s now up to Chicago voters to decide whether to authorize the City Council to raise the real estate transfer tax on high-end property sales to confront the burgeoning problem of homelessness.