Local Taxes & Fees in Chicago, IL (2026)
5 verified local taxes & fees rules for Chicago, Illinois, sourced directly from the municipal code and official government pages.
Verified from official government sources
Mansion Tax (Measure ULA)
Chicago has no mansion tax. The March 2024 Bring Chicago Home referendum, which would have raised the transfer tax tier on sales over $1 million, was rejected by voters. The flat Real Property Transfer Tax under MCC 3-33 still applies citywide.
Real Property Transfer Tax; Bring Chicago Home Failed
Some RestrictionsVacancy Tax
Chicago has not adopted a vacancy tax on empty homes or storefronts. Illinois law does not authorize one. The city instead targets blighted vacant property through the Vacant Building Ordinance MCC 13-12-125 registration fees and code enforcement.
No Chicago Vacancy Tax; Vacant Building Fees Apply
Few RestrictionsAffordable Housing Linkage Fee
Chicago's Affordable Requirements Ordinance MCC 2-44-080 requires residential developments of 10 or more units that receive city zoning bonuses, financial assistance, or are on city-owned land to set aside 20 percent affordable units, build off-site, or pay an in-lieu fee.
Affordable Requirements Ordinance Sets In-Lieu Fees
Heavy RestrictionsBusiness Tax Classification
Chicago does not levy a city business income tax. The Business License Tax under MCC 4-4 funds licensing through the Department of Business Affairs and Consumer Protection. Illinois imposes a 7 percent corporate income tax plus the 2.5 percent Personal Property Replacement Tax.
Chicago Business Licensing Plus Illinois Business Taxes
Some RestrictionsParking Tax
Chicago's Parking Tax under MCC 4-236 charges 22 percent on weekday daily commercial parking and 20 percent on weekend rates, reaching 23.25 percent for valet. Combined with the Cook County parking tax, downtown garage tax burdens are the highest in the United States.
Chicago Parking Tax Highest In Nation; 22 Percent Weekday
Heavy RestrictionsLooking for Cook County county-wide rules?
County ordinances apply to unincorporated areas and may supplement Chicago city rules.
Local Taxes & Fees in Cook County →