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  • Morton Grove Transfer Declaration Form

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R.E. Tax Stamp No. VILLAGE OF MORTON GROVE REAL ESTATE TRANSFER TAX DECLARATION Check Appropriate Boxes Residential Commercial/Industrial Declaration Multi-Unit No. of Units Exemption Recorder of.

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Overview of Illinois Real Estate Transfer Tax County real estate transfer tax are imposed at a rate of $0.25 per $500 of value stated in the Transfer Tax Return. A transfer that is exempt from state real estate transfer tax is also exempt from county real estate transfer tax.

In Chicago, both buyers and sellers must pay a transfer tax. In addition to the municipal transfer tax, each county in Illinois assesses a transfer tax at the rate of 50 cents per thousand dollars of the sale price. TRANSFER TAXES ARE ASSESSED WHEN A PROPERTY IS TRANSFERRED/SOLD.

Who pays the transfer tax in Chicago? Both the buyer and the seller need to pay taxes at the closing appointment when transferring Chicago real estate. The buyer has a flat 0.75% tax rate that goes straight to the city. The seller pays a total of 0.45% in taxes to the city, county, and state.

The recorder of deeds or registrar of titles in each county collects the tax through the sale of revenue stamps which counties purchase from the Department of Revenue. The same stamp may also provide evidence of the payment of a county real estate transfer tax.

Complete a mail-in application for change of name/address. Forms are available at our office and can be downloaded from the Cook County Treasurer's Office website. Mail-in forms must be notarized and addressed to the Treasurer's office located at 118 N. Clark Street, Room 102, Chicago, IL 60602.

Exemptions. Some transactions are exempt from Transfer Tax. Some examples would be conveyances between husband and wife, parents and child, grandparent and grandchild, brothers and sisters. A one-time transfer is allowed between former spouses.

Illinois' transfer tax rate is $0.50 for every $500 of the home's value, which is generally paid by the seller. That means the sale of a $300,000 home will merit a $300 tax. On top of that, certain counties impose an additional 25 cents for every $500 — thus adding another $150 on the sale of the same $300,000 home.

In Chicago, both buyers and sellers must pay a transfer tax. In addition to the municipal transfer tax, each county in Illinois assesses a transfer tax at the rate of 50 cents per thousand dollars of the sale price.

The County imposes a real estate transfer tax of $0.25 per $500 in value (0.05%). State and Cook County real estate transfer taxes are paid by the seller.

Illinois residents must declare capital gains on state and federal tax returns. Capital gains are taxed at state, federal, and sometimes local levels. Illinois's top average combined rate is 27.2% when state, federal, and local taxes are added together.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232