Remember when I said that I have never met a democrat who did not love a new tax or increasing an existing tax?

Illinois legislators continue to make my case:

More bad news - Another new Illinois tax. Democrats are now proposing a new tax on people who “purchase” homes in Illinois.

 

Lawmakers previously considered a tax for individuals who sell their homes, now Democrats meeting in Springfield have just proposed another new tax that will increase the cost of purchasing a home in Illinois. 

 

During the October 28-30 veto session, Illinois lawmakers are considering a new tiered real estate transfer tax to fund Chicago mass transit. 

 

This new proposal, introduced by House Democrats on October 28, 2025, differs from a Senate-passed bill from the spring session and must pass both chambers before the session ends on October 30 to advance this year. 

 

Proposed tiered real estate transfer tax:

The proposed tax would create a tiered structure, affecting home purchases differently depending on the sale price.  

Up to $1.5 million: The tax would be $5 per $1,000 of value.

$1,500,000.01 to $5 million: The rate would increase to $7 per $1,000.

$5,000,000.01 and more: The tax would be $9 per $1,000.

 

The previous version of this tax proposal in the spring was targeted for Cook County and Chicago collar counties. Who out there believes that this new proposal will not be expanded to include the entire state of Illinois.?

 

BOTTOM LINE = As the Veto session in Springfield continues, expect more crazy Democrat, sponsored tax hike schemes. 

TOLD.YOU.SO!