(A) The tax herein levied and imposed shall be collected by the Director of Finance through the sale of real estate transfer tax stamps, which shall be caused to be prepared by the Director in such quantities as the Director may from time to time prescribe. Such stamps shall be available for the sale at, and during the regular business hours of, the village offices and the offices of such agents as the village may designate. For the purpose of reviewing the request for the stamps, the village shall process a request within two working days. Upon payment of the tax herein levied and imposed, the stamps so purchased shall be affixed to the deed or trust document or other instrument of conveyance as required by this article. Any person so using and affixing a stamp shall cancel it and so deface it as to render it unfit for re-use by marking it with his initials and the day, month and year when the affixing occurs. Such markings shall be made by writing or stamping in indelible ink or by perforating with a machine or punch; however, the stamp(s) shall not be so defaced as to prevent ready determination of its denomination and genuineness. The Carol Stream Real Estate Transfer Tax Stamp shall be of a design determined by the Village Manager.
(B) The village hereby determines to establish an administrative fee upon the issuance of exempt stamps under its real estate transfer tax ordinance. The village has determined that there are substantial administrative costs in determining whether an individual seeking an exempt stamp under the village’s real estate transfer tax ordinance is entitled to such a stamp. Because the amount of the tax due under the village’s real estate transfer tax ordinance may be quite substantial, individuals understandably may make an application for an exempt stamp when there is a serious question as to whether the applicant is entitled to the tax exemption. The village has not previously made a charge for evaluating and processing such applications for tax exemptions, and the cost of such services has been substantial, and no fee has been charged previously for such service. The fee payable with an application for a real estate tax exemption stamp shall be $25.
(Ord. 92-04-41, passed 4-14-1992; Ord. 2009-04-14, passed 4-6-2009)