REALTORS® protected property owners and the real estate economy like never before in 2024

REALTORS® executed two successful strategic campaigns to show Chicago leaders that any property tax hike would exacerbate rising housing costs, endanger neighborhoods and local businesses, and worst of all, displace already vulnerable residents. Our efforts, which resulted in thousands of messages and phone calls to the Mayor and City Council, gave residents a voice.

Similarly, we are engaging with local officials all around the state to fight for and protect the real estate economy and that commitment will not waiver in 2025 and beyond.

Thwarted property tax increase in 2025 Chicago budget

For almost two months, REALTORS® executed a strategic campaign to show City leaders that any property tax hike would exacerbate rising housing costs, endanger neighborhoods and local businesses, and worst of all, displace already vulnerable residents. Our efforts, which resulted in thousands of messages and phone calls to the Mayor and City Council, gave residents a voice.

Exposed "transfer tax" as yet another property tax on residents

REALTORS® successfully advocated against a Chicago transfer tax proposal that would have harmed the city's residential, commercial and renters' markets. The transfer tax proposal would have added pressure to the housing market without addressing the real needs of the unhoused and increased housing instability. Chicago voters defeated the measure in the March 2025 primary.

Read more:

• Baker urges pursuit of better solutions as "Bring Chicago Home" referendum seems headed for defeat
• REALTORS® educating voters to vote NO on Chicago transfer tax

From transfer taxes to property taxes, throughout 2024, REALTORS® have shown their commitment to fight for and protect the real estate economy and that commitment will not waiver in 2025 and beyond.

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