Tuesday, February 12, 2008

Chicago real estate tax increase approved

No one liked it, but Chicago aldermen approved a big increase Wednesday in the city's real estate transfer tax. This was part of the deal to keep the Chicago Transit Authority running.

Compromise means not everyone is happy. The agreement to bail out mass transit in Illinois came with much compromise. The City of Chicago's part was an increase in transfer tax. At the same time the city considers ways to help homeowners.

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