10/17/2026
Illinois Democrats propose a Illinois 'exit tax' The tax proposal would cost individuals who sell their homes an average of $1335.00. The revenue from this bill would go to the City of Chicago to assist in funding Chicago mass transit
Brandon Johnson's public transportation system would be the primary beneficiary. Interestingly, the City of Chicago, would be 'exempt' from having to pay the tax.
Illinoisians who want to leave Illinois, would get taxed one final time on the way out, when you sell your house! Illinois already has the highest property taxes in the nation, and this tax would add on the burden. House Bill 3438 would include a real estate transfer tax equivalent to $3.00 on every $1,000 of home value to fund the CTA, according to the Illinois Policy Institute, HB3438 is sweeping transit reform and funding bill aimed at restructuring public transportation governance and policy in Northern Illinois.
The tax would be paid on real estate transfers in Kane, Lake, McHenry, DuPage, Will, and 'suburban' Cook County.
Current bill Status: The Democrat Sponsored bill was passed by the Illinois Senate but did not go to the Illinois house and has not been signed into law....yet. The bill remains in committee in Springfield and could be called up for a vote after the Nov 3rd election.