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Multi-year REALTOR® effort ends Monee transfer stamp policy

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The elimination of a real estate transfer stamp in Monee, Ill., shows the power of RVOICE, and underscores the value of the Illinois Association of REALTORS®’ political advocacy.

In 2005 and 2007 Monee tried by referendum to implement a transfer tax. Both efforts failed, in large part due to IAR advocacy mailings and member lobbying.

Undeterred, the then mayor and the city attorney implemented the transfer stamp, and added requirements to transactions that often delayed property sales. While REALTORS® were able to remove some barriers to property sales, the transfer stamp policy remained firmly in place.

Flash forward to April.

REALTORS® met with first-term Trustee Jay Farquhar, who was considering a challenge to the incumbent mayor who refused to amend or repeal the policy. Farquhar agreed with IAR’s position, and he interviewed with the Mainstreet Organization of REALTORS® Political Action Committee and separately was reviewed by the NAR/IAR Independent Expenditure program.

Farquhar won the mayoral race, and last week the city council eliminated the transfer stamp policy.

“This is a great example of our collective efforts across the board lobbying, advocacy, legal counsel and — when needed– independent campaign funds to get it done,” said Tom Joseph, an IAR government affairs director who was involved throughout the process.

http://www.iarbuzz.com/2013/09/multiyear-realtor-effort-ends-monee-transfer-stamp-policy/

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