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Thursday Mar 13, 2008

Chicago Real Estate Transfer Tax Hike Will be Paid by Seller

Buyers can relax as sellers pick up the tab on the new real estate transfer tax increase that will take effect at the beginning of next month. A previous decision that would require home buyers to cover the cost of the April 1st tax hike was overturned in a unanimous vote by Chicago City Council yesterday. A proposal to shift the additional tax ($3 per $1,000 of the sale price) to the seller was approved on Wednesday, 49-0.

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Posted at 05:12PM Mar 13, 2008 by Spencer Mason in General  |  Comments[0]

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