Comment: We called this the “Exit Tax” in our earlier article when we told you this was coming. Chicago’s Metropolitan Planning Council is endorsing a proposal to move to a graduated rate of up to 3.3 percent that would apply not just to “mansions” but commercial property worth at least $5 million. Under the proposal, the rate would hit 2.5 percent on values of $1 million to $5 million, and the portion of any sales price above $5 million would face a 3.3 percent tax—three times today’s level.

The Washington, Dallas, New York and Chicago metro areas are experiencing increases in both new home construction and maintenance spending, according to a report by property data provider BuildFax.