Skip to code content (skip section selection)
Compare to:
CHAPTER 23A
TAXES
Real Estate Transfer Tax   1
Alcoholic Liquor Purchase At Retail, Privilege Tax   2
Municipal Telecommunications Tax   3
Hotel/Motel And Transient Occupancy Rental Unit Tax   4
Home Rule Retailers' And Service Occupation Tax      5
Motor Fuel Tax   6
Municipal Gas Use Tax   7
Cable/Video Service Provider Fee And PEG Access Support Fee      8
Utility Tax   9
Cannabis Retailers' Occupation Tax      10
ARTICLE 1
REAL ESTATE TRANSFER TAX
SECTION:
23A-1-1: Definitions
23A-1-2: Imposition Of Tax
23A-1-3: Primary Liability For Tax
23A-1-4: Declaration Forms
23A-1-5: Deeds
23A-1-6: Exempt Transactions
23A-1-7: Exemptions
23A-1-8: Revenue Stamps Required; Proof Of Water Bill Payment And Release Of Recorded Liens Required
23A-1-9: Real Estate Transfer Declaration; Filing
23A-1-10: Transfers In Trust
23A-1-11: Lien Created; Enforcement
23A-1-12: Enforcement; Suit For Collection
23A-1-13: Interest And Penalties
23A-1-14: Proceeds Of Tax; Exception For HOME Participants
23A-1-15: Penalty For Violation
23A-1-16: Effective Date
23A-1-17: Severability
23A-1-1: DEFINITIONS:
PERSON: Any natural person, receiver, administrator, executor, conservator, assignee, trust in perpetuity, trust, estate, firm, copartnership, joint venture, club, company, joint stock company, business trust, municipal corporation, political subdivision of the state of Illinois, domestic or foreign corporation, association, syndicate, society or any group of individuals acting as a unit, whether mutual, cooperative, fraternal, nonprofit, or otherwise, and the United States or any instrumentality thereof. Whenever the term "person" is used in any clause prescribing and imposing a penalty, the term as applied to associations shall mean the owners or part owners thereof, and as applied to corporations, the officers thereof.
RECORDATION: The recording of deeds with the office of recorder of deeds or the registration of deeds with the registrar of titles of Cook County, Illinois.
VALUE: The amount of the full actual consideration for any transfer covered hereunder, including the amount of any mortgage or other lien assumed by the grantee or purchaser. (Ord. 1983-0-77, 11-21-1983; amd. Ord. 1984-0-75, 11-19-1984)
23A-1-2: IMPOSITION OF TAX:
A tax is imposed on the transfer of title to real estate located in the Village as evidenced by the recordation of a deed by any person or by the delivery of any deed or assignment of interest of said real property, whether investing the owner with the beneficial interest in or legal title to said property or merely the possession or use thereof for any purpose or to secure future payment of money or the future transfer of any such real property.
The tax imposed shall be eight dollars ($8.00) for every one thousand dollars ($1,000.00) value or fraction thereof as stated in the declaration. (Ord. 1986-0-23, 4-7-1986; amd. Ord. 1993-0-7, 1-19-1993)
Loading...