Gross receipts tax will hit new homebuyers with over $8,000 in added cost, study finds
By ALAN J. ORTBALS
The accumulated or "pyramid" effect of the gross receipts tax proposed by Gov. Rod Blagojevich would add nearly $9,000 to
the cost of an average new home in the nine-county metropolitan Chicago region, according to a study released in mid-April
by the Illinois Association of Realtors.
Prospective homebuyers in the Southwestern Illinois area would see similar price escalation, according to Jerry Rombach,
executive officer of