Recently there has been some talk about the Real Estate Transfer tax in Naperville. This tax is one of several taxes that become part of the general fund that pays for the city’s operating expenses and has been around for as long as I can remember in Naperville.
There was talk a few years ago about raising this tax but the concern is that increasing it could negatively effect home sale in Naperville. If you eliminate this tax that would mean the city would have to increase another tax to make up for this lost revenue and that usually means raising property taxes. I believe higher annual property taxes would have a greater negative impact on Real Estate sale then is one time tax so keeping it is the lesser of two evil.