Chicago voters could soon get to decide whether to strip banks and mortgage companies — key players in the foreclosure epidemic — of their long-standing exemption from the city’s real-estate transfer tax. By a vote of 8-to-2, the City Council’s Finance Committee agreed today to put that resolution on the ballot, either on Nov. 2 or Feb. 22. Only after voters approve a referendum could the City Council vote to end the tax break.
Aldermen press to strip banks, mortgage companies of tax exemption
July 29, 2010, 3:53pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Why housing demand is up and inventory is down in 2026
Pending sales rose to 75,856 vs 72,039 in 2025 as inventory turned negative year over year with mortgage rates near 6.58%.
Jun 13, 2026
-
HUD tests a new Operation Breakthrough for today’s housing crisis
Jun 23, 2026 -
SERHANT. expands into Texas with 13 founding agents
Jun 23, 2026 -
HUD aims to help multi-story manufactured housing go vertical
Jun 18, 2026 -
Keys to the housing market for the rest of 2026
Jun 20, 2026 -
Congress passes 21st Century ROAD to Housing Act, sends bill to Trump
Jun 23, 2026
Latest Articles
ROAD work ahead
A fiendishly brilliant advertising copywriter working for Benetton during the “hanging chads” Presidential election controversy in 1992 took a circa-1973 Yogi Berraism and transformed it for a New York City billboard on the heavily trafficked northbound West Side Highway. “It ain’t Oval ‘til it’s Oval!” the message read, as the matter made its way up […]
-
FHFA pushes GSEs to embrace chattel loans in Duty to Serve proposal
-
The checklist real estate agents need for estate sale referrals and timing
-
From recovery to real estate: Tracy Jones Team climbs to No. 1 in Ohio
-
AARP awards $8.3M in senior-focused housing and community improvement grants
-
New home sales fall in May as rate shock, inflation squeeze buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio