Sign in Subscribe
Housing

Illinois REALTORS® Celebrate Passage of Mass Transit Reform Package

Strategic Insights

— 1 min read

The Illinois General Assembly passed a comprehensive mass transit reform package that safeguarded both the state's transportation future and the dream of homeownership by excluding any new real estate taxes. This significant legislation was a direct result of the awareness campaign launched by Illinois REALTORS®, which highlighted the potential harm of proposed real estate transfer tax increases. The campaign underscored that higher taxes on real estate transactions would stifle economic growth, hinder mobility, and place unnecessary financial pressure on homeowners and prospective buyers. Illinois REALTORS® commended legislative leaders for their leadership and understanding of the housing market's role in sustaining local economies.

Key Takeaways:

  • The Illinois General Assembly passed a comprehensive mass transit reform package that excludes any new real estate taxes.
  • The reform package was a direct result of the statewide consumer awareness campaign launched by Illinois REALTORS®.
  • The campaign highlighted the potential harm of proposed real estate transfer tax increases, which would stifle economic growth, hinder mobility, and place financial pressure on homeowners and prospective buyers.
  • Illinois REALTORS® commended House Speaker Emanuel "Chris" Welch and Transit Reform Working Group Co-Chairs Rep. Eva-Dina Delgado and Rep. Kam Buckner for their leadership in finding alternative funding solutions to sustain Illinois' vital mass transit systems.
  • Raising real estate taxes would rob towns and cities of economic growth, as stated by Illinois REALTORS® CEO Jeff Baker.
  • Alternative funding solutions were found to sustain Illinois' mass transit systems without jeopardizing housing affordability.
  • Illinois REALTORS® launched the statewide consumer awareness campaign earlier this year to educate the public about the potential harm of real estate transfer tax increases.

Statistics:

  • The comprehensive mass transit reform package passed by the Illinois General Assembly excludes any new real estate taxes.
  • Illinois REALTORS® launched a statewide consumer awareness campaign in the year leading up to October 2025.
  • The campaign aimed to inform the public about the potential harm of proposed real estate transfer tax increases.
  • The campaign highlighted that higher taxes on real estate transactions would stifle economic growth, hinder mobility, and place financial pressure on homeowners and prospective buyers.
  • According to Illinois REALTORS®, raising real estate taxes would rob towns and cities of economic growth.

Sources:

  • Illinois Association of REALTORS (Illinois REALTORS® Statement on Passage of Mass Transit Reform Package Without New Real Estate Taxes, October 31, 2025)

Read more