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CITY OF PARK RIDGE REAL ESTATE TRANSFER DECLARATION Department of Community Preservation and Development 505 Butler Place, Park Ridge, Illinois 60068-4182 (847) 318-5289 FAX: (847) 318-6411 ADDRESS.

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How to fill out the Park Ridge Transfer Stamps online

This guide provides clear instructions on how to complete the Park Ridge Transfer Stamps form online. Whether you are familiar with real estate transactions or new to the process, this guide will support you through each step.

Follow the steps to fill out the form effectively.

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Provide the address of the property in the designated field. Ensure that you enter the complete and accurate address.
  3. Input the legal description of the property below the address. This may include lot numbers or other identifying details relevant to the property.
  4. Enter the Permanent Property Index Number (PIN), which is necessary for identification purposes.
  5. State the full actual consideration, including the amount of mortgage and any liabilities, in the specified section.
  6. Calculate the amount of tax based on the total consideration. The tax rate is $2 per $1,000 of the full actual consideration. Provide this amount in the respective field.
  7. If applicable, claim any exemptions by indicating the relevant paragraph(s) from Section 2-18-6 of the ordinance. Provide necessary details for justification.
  8. Enter the exempt transfer fee where required.
  9. Grantor/Transferor/Seller should answer all questions regarding the property, including the date acquired, its current state, and any modifications or transfers.
  10. Signatures are required from both the seller and buyer. Each party must print their names and addresses in the designated spots.
  11. Lastly, designate the date of closing and provide contact information.
  12. Save your changes, and once complete, you can download, print, or share the filled form as necessary.

Complete your documents online today for a streamlined process.

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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.

Illinois Property Transfer Tax Transfer Taxes (stamps)City of Chicago Transfer Tax:Seller3.00 per $1,000Buyer$7.50 per $1,000TOTAL*:6 more rows

The seller pays for both taxes. The State's revenue from this tax is deposited into the Illinois Affordable Housing Trust Fund, the Open Space Lands Acquisition and Development Fund and the Natural Area Acquisition Fund. Cook County tax revenue is deposited into the County's General Fund.

Sellers have to pay $0.25 per $500 to Cook County and $0.50 per $500 to the state.

There is a transfer tax on any change in ownership of real estate. The seller must pay a property transfer tax of $2.00 dollars per $1,000 dollars of value or fraction thereof. The following information must be provided before a transfer tax will be processed.

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