A tax is hereby imposed on the privilege of transferring of title to real estate, or the privilege of transferring a beneficial interest in real property, and on the privilege of transferring a controlling interest in a real estate entity as the terms, “beneficial interest“, “controlling interest“ and “real estate entity,“ are defined in Article 31 of the Property Tax Code, located in the village as evidenced by the recordation of a deed by any person or by the delivery of any deed, assignment of interest in the real property, made after June 1, 2005, whether vesting the owner with the beneficial interest or controlling interest in or legal title to real estate. The tax imposed shall be $1.75 for every $500.00 of value, or fraction thereof, as stated in the declaration. The tax herein levied shall be in addition to any and all other taxes. Such a tax or other fee shall hereafter be referred to as a real estate transfer tax.
(Ord. 04-0170, passed 4-20-05)