A grantee/buyer ("taxpayer") who has purchased a dwelling unit in the city and has paid the real estate transfer tax provided for in § 39.155 shall be entitled to a refund equal to the lesser of the amount of such tax or $2,000; provided such taxpayer satisfies all of the following requirements:
(A) The taxpayer has bought and sold property within Lake Forest where the closing dates fall within 12 calendar months of each other.
(B) The taxpayer's sold property was his or her primary residence.
(C) The taxpayer has not received a real estate transfer tax refund within the three years immediately preceding receipt of refund application.
(D) A completed application for real estate transfer tax refund has been filed with the Finance Department within 12 months of the most recent closing.
(Ord. 06-18, passed 4-20-2006; Ord. 2008-39, passed 11-17-2008; Ord. 2009-29, passed 11-16-2009; Ord. 2016-02, passed 1-19-2016; Ord. 2017-58, passed 10-16-2017; Ord. 2020-051, passed 12-7-2020)