A. A grantor, assignor, transferor, or seller (hereinafter referred to as "Taxpayer") who has paid to the director of finance the tax provided for herein shall be entitled to a refund of two dollars ($2.00) for every one thousand dollars ($1,000) value or fraction thereof as paid as stated in the declaration; provided such Taxpayer meets all of the following requirements with regard to the real property for which such transfer tax was paid (hereinafter referred to as "Sale Dwelling Unit"):
1. The Taxpayer has occupied the Sale Dwelling Unit as their principal residence prior to sale;
2. The Taxpayer has not rented or leased to anyone any portion(s) of the Sale Dwelling Unit or the real property upon which such Sale Dwelling Unit is located: and
3. Either:
a. The Taxpayer has purchased and occupied as their principal residence another dwelling (hereinafter referred to as the "Purchase Dwelling Unit") within the corporate limits of the City of Des Plaines within one year after the date that the transfer tax was paid on the transfer of title to the Sale Dwelling Unit;
b. The Taxpayer has purchased and occupied as their principal residence the Purchase Dwelling Unit within the corporate limits of the City of Des Plaines within one year before the date that the transfer tax was paid on the transfer of title to the Sale Dwelling Unit; or
c. The grantor or seller applies for the refund within sixty (60) days after the second transfer as described in subsections (a) and (b) above.
B. Return of Unused Stamps and Tax Refunds: The City must be notified of all failed sales and other conveyance transactions for which a tax stamp had been issued. Unused transfer stamps must be returned to the City. Tax stamps returned within ninety (90) days of purchase will be eligible for full tax refund. Tax stamps returned ninety (90) to one hundred eighty (180) days after purchase are eligible for a fifty percent (50%) tax refund. No tax refund will be issued for tax stamps returned more than one hundred eighty (180) days after purchase. (Ord. M-19-13, 10-7-2013; amd. Ord. M-7-22, 2-7-2022)