| Real Estate Transfer Tax
708-756-5304
DECLARATIONS
· When a property is sold in Chicago Heights, the seller
is responsible for paying the real estate transfer tax. Before the
tax is paid, an appointment must be made with Code Enforcement (756-5328)
and Water Billing (756-5344, 45, 46) for a final inspection and
a final water meter reading. A copy of the new deed to be recorded
along with a completed transfer tax application is required at the
time of payment of the transfer tax.
· The tax imposed is four dollars ($4.00) for every one
thousand dollars ($1,000.00) value as stated in the declaration.
Only cash, money orders, certified checks, cashiers checks, title
company or attorney checks are accepted for payment of the final
water bill and the real estate transfer tax. Personal checks, real
estate company and firm checks are not accepted.
EXEMPTIONS
· There are certain situations in which a transfer tax does
not have to be paid, such as tax deeds, foreclosure deeds, and deeds
into or out of trust with no actual consideration. See the transfer
tax application for a complete listing of exemptions.
· With all exemptions, the ORIGINAL copy of the new deed
to be recorded or an original copy of the assignment of beneficial
interest must be presented - NO EXCEPTIONS!
REFUNDS
· Reinvestors and senior citizens (age 65) may be eligible
for the real estate transfer tax refund. If the requirements are
met, the refund may be applied for after the closing.
UNINCORPORATED CHICAGO HEIGHTS
· When a property in unincorporated Chicago Heights is being
sold, a real estate transfer tax does not have to be paid. A certified
form is issued stating that the property is unincorporated and is
given to the Cook County Recorder by the party recording the deed.
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