Robbing Peter to Pay Paul
SPRINGFIELD — Homebuyers soon will have to pay an extra $20 in closing costs under a new law Gov. Rod Blagojevich approved Sunday.
The law places a new $10 fee on documents filed during home sales. Typically, buyers file two documents and sellers file one.
These fees will be used to help low-income families pay their rent. Supporters say once the new costs are added up statewide, it could provide $30 million to more than 5,500 families.
“People need housing that’s safe, dependable and affordable. They need to live near their jobs and their schools. Affordable housing is a critical element to helping hard working people get ahead,” Blagojevich said in a statement announcing he’d signed the new law.
It's modeled after a Chicago program that provides rental subsidies to nearly 2,000 households.
Thousands of people already are on waiting lists for public housing in Illinois. Cuts to federal housing programs are expected to lead to even more people seeking assistance elsewhere.
LINK
Oh boy. Flat tax. Supposed to be fair to pay for the poor. It's not right to put all of the burden on the homebuyer; it should be seller and buyer as it was.
Seems to me some town should rescind its 200K grant to pay for some electronic music concert seed money, and put that back into the coffers to help pay for public housing too.
The law places a new $10 fee on documents filed during home sales. Typically, buyers file two documents and sellers file one.
These fees will be used to help low-income families pay their rent. Supporters say once the new costs are added up statewide, it could provide $30 million to more than 5,500 families.
“People need housing that’s safe, dependable and affordable. They need to live near their jobs and their schools. Affordable housing is a critical element to helping hard working people get ahead,” Blagojevich said in a statement announcing he’d signed the new law.
It's modeled after a Chicago program that provides rental subsidies to nearly 2,000 households.
Thousands of people already are on waiting lists for public housing in Illinois. Cuts to federal housing programs are expected to lead to even more people seeking assistance elsewhere.
LINK
Oh boy. Flat tax. Supposed to be fair to pay for the poor. It's not right to put all of the burden on the homebuyer; it should be seller and buyer as it was.
Seems to me some town should rescind its 200K grant to pay for some electronic music concert seed money, and put that back into the coffers to help pay for public housing too.
posted by benny06 at
Monday, July 04, 2005
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