The Illinois Association of REALTORS® and the Mainstreet Organization of REALTORS® mailed postcards to Midlothian residents late last week, urging them to vote “no” to the real estate transfer tax on April 7.
It is the second mailing from IAR and MORe, educating Midlothian residents about the potential negative effects of the referendum and the potential new tax, says IAR Governmental Affairs Director Tom Joseph. The theme of the second postcard is “dream.”
The postcards mention that sellers will pay the tax but that the price of a home paid by buyers could increase as well. For every $100,000 your home is worth, local officials would collect $500.
“This referendum is an extension of Home Rule,” says Joseph. “We oppose it not only because the new tax potentially raises the cost of future transactions but because – together with municipal point-of-sale inspections and the issuance of transfer stamps – it can be used to control the real estate process.”