Effective June 1, 2005, and pursuant to Public Act 93-1099 and 55 ILCS 5/5-1031, there is hereby imposed a tax on the privilege of transferring a controlling interest in a real estate entity owning property located in the county, including a lessee’s interest in certain ground leases, in the amount of $0.25 per $500 consideration or fraction of $500 value declared in the real estate transfer declaration required by 35 ILCS 200/31-25, such tax to be in addition to any and all transfer tax currently authorized for collection by the county.
(Res. 2005-57, passed 5-17-2005)