Illinois: Chicago Finance Department Announces Tax Changes for January 2026

The Chicago Department of Finance released an update on tax changes occurring as of January 2026. The information includes clarifying: 1) that the personal property lease transaction tax rate shall be 15 percent of the lease or rental price for all leases; 2) that the motor vehicle lessor tax rate imposed on leasing motor vehicles within the city on a daily or weekly basis shall be $0.50 per vehicle, per rental period specified in the lease agreement; 3) the boat mooring tax rate imposed for the mooring or docking fee for non-profit corporations and other taxpayers; 4) the checkout bag ...