Starting January 1, 2025, several important tax rate changes will take effect in Chicago, impacting various sectors. These changes are part of the 2025 Revenue Ordinance passed by the City Council on December 16, 2024.
- Personal Property Lease Tax: The tax rate for personal property leases will increase to 11%.
- Amusement Tax: For paid television and electronically delivered amusements, such as streaming services and online games, the tax rate will be 10.25%.
- Parking Tax: The tax on parking, including valet services, will be set at 23.25%.
- Checkout Bag Tax: A tax of ten cents per checkout bag will be imposed, with stores retaining one cent per bag.
- Ground Transportation Surcharge: An additional $1.50 surcharge will apply to rides in the Downtown Zone between 6:00 a.m. and 10:00 p.m., effective January 6, 2025.
For any questions regarding these changes, please contact a member of your Porte Brown advisory team.
The updates published from Chicago can be found here: City of Chicago: Tax Rate Changes as of January 2025