A. The tax herein levied and imposed shall be collected for and on behalf of the Village by the Village Clerk through the sale of revenue stamps, which shall be caused to be prepared by the said Village Clerk in such quantities as may from time to time be prescribed. Such revenue stamps shall be in the denomination of Five Dollars ($5), Twenty-Five Dollars ($25), Seventy-Five Dollars ($75), One Hundred Dollars ($100), Two Hundred Fifty Dollars ($250), Five Hundred Dollars ($500), One Thousand Dollars ($1,000), and Two Thousand Five Hundred Dollars ($2,500). Such revenue stamps shall be available for sale at a location within the Village promulgated from time to time by the Village Clerk during regular business hours of the Village and/or at other locations designed from time to time by the President and Board of Trustees of the Village.
B. At the time the tax imposed by Section 19.201 is paid or an application is made for exemption therefrom, there shall also be presented to the Village Clerk, on a form prescribed by the Village Clerk, a declaration signed by at least one of the seller or grantors and by at least one (1) of the purchasers or grantees involved in the transaction, or signed by their attorneys or agents, which declaration shall state the full consideration to be paid for the real property so transferred.
1. In the instances when a declaration is signed by an attorney or agent on behalf of sellers or buyers who have the power of direction to deal with the title to the real estate under a land trust agreement (the trustees being a mere repository of recorded legal title with a duty of conveying the real estate only when and if directed in writing by the beneficiary or beneficiaries having the power of direction), said attorney, agent, licensed real estate sales person or broker need only identify the land trust which is the repository of record legal title and need not declare the identity of such beneficiary or beneficiaries of the land trust agreement.
2. Each declaration so presented shall be accompanied by a deed. In addition to other requirements imposed by law each deed so presented shall contain the date of the conveyance which it evidences, the legal description and the permanent tax index number of the real property being conveyed, and the names of the grantor and grantee; except that, with respect to the latter, in the case of an assignment of beneficial interest, a facsimile thereof executed by agents or attorneys as and for each of the grantor and grantee but otherwise not containing the names or identities of the grantor and grantee shall be acceptable.
C. The primary liability for payment of said tax shall be borne by the grantee reflected on the deed involved in any such transaction unless otherwise negotiated by contract; provided, however, that if the grantee is any corporation, society, association, foundation or institution organized and operated exclusively for charitable, religious or educational purposes, in which instance the absolute liability for payment of said tax shall be borne by the grantor reflected in said deed. Unless the deed is exempted from the tax pursuant to and in accordance with Section 19.205, it shall be unlawful for any grantee to accept a conveyance if the transfer tax has not been paid. If at the time of recordation the tax has not been paid and the stamps affixed to the deed, then the grantee's title shall be subject to the lien provided in Section 19.204 hereof and the grantee reflected on the deed shall be liable for payment of the tax. The tax herein levied shall be in addition to any and all other taxes.
(Ord. 328, passed 4-10-96; Am. Ord. 341, passed 5-8-96; Am. Ord. 549, passed 11-18-2005; Am. Ord. 701, passed 9-20-2011)