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Realtors tell finance committee Oak Park should credit transfer tax for sellers who stay to boost mobility
5912546 · October 7, 2025
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Summary
Illinois Realtors and Oak Park Area Association representatives told the Finance Committee that the village's $8-per-$1,000 transfer tax is among the state's highest and can deter mobility; they proposed crediting back the village portion to sellers who remain in the community.
Michael Bailey, local government affairs director for Illinois Realtors, told the Oak Park Finance Committee that the village's municipal transfer tax, at $8 per $1,000 of sales value, is one of the highest in Illinois and can suppress housing turnover and…
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