Invest in your Business. Invest in RPAC.
Multi-unit dwelling annual license fee
Stopped a local government proposal to license and regulate the use and operation of multifamily dwelling unites and to charge a fee of $60 per unit annually, plus a fee whenever the unit turns over. For a 50-unit property that cost to the landlord is $3,000 + annually.
Commercial sign fee
Successfully ended an excessive commercial real estate sign permit fee of $75 in a local Illinois
Licensing of real estate firms
Overturned the illegal licensing of real estate firms in a local Illinois community that would have cost offices a minimum of $1,000 in fees over 10 years.
Real estate for sale sticker fee
Eliminated a real estate for-sale sign sticker fee on all signs in one local community.
Real estate transfer tax
Defeated a proposed tripling of the state real estate transfer tax, which combined with the local transfer tax added up to $10 per thousand. A home sold for $200,000 could incur a $2,000 transfer tax.
Mandatory fire sprinkler installation
Stopped a far-reaching statewide mandate that would require costly fire sprinkler installation in new construction and retrofits in existing properties. IAR research found the actual installation cost installation in a four-bedroom, two-story 3,100-square-foot home in St. Charles was $10,200 plus $3,000 for framing, insulation and inspections.
Business registration fee
Successfully stopped a bill allowing all Illinois municipalities to enforce a business registration process charging up to a $200 penalty for failure to register.
Mortgage interest deduction impact on the real estate business
Research from the National Association of REALTORS® shows the income of a typical real estate professional would fall by $12,000 over the first two years and then by $5,000 annually if the mortgage interest deduction was eliminated. And it would affect the personal wealth of homeowners with home values dropping an average 15 percent.
Mortgage interest deduction impact on the homeowner
The average taxpayer who buys a home with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5%, could save nearly $3,500 in federal taxes. That’s real money to pay down other debts, save for college or retirement.
When you add it all up, RPAC is an incredibly valuable pocketbook protector.
By investing in RPAC, you get to keep more of your hard-earned money.
Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. Up to thirty percent (30%) may be sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a. A copy of our report filed with the State Board of Elections is (or will be) available on the Board's official website www.elections.il.gov or for purchase from the State Board of Elections, Springfield, Illinois.