What is the Real
Estate Transfer Tax?
The Real Estate Transfer Tax is imposed on the seller or grantor
of property of real estate within the City of Highland Park. The
tax must be paid to the City and a transfer tax stamp(s) must be
obtained before closing and recording of documents.
Who Pays It?
Payment of this tax is the responsibility of the seller.
How Much Is It?
The tax is $5 per $1,000 (or any fraction thereof) of the property's
selling price. For example, if the sales price is $300,000, the
tax is
$1,500.
What is Required?
A copy of the deed, completed utility
form, completed transfer
tax declaration form and the current balance on the water account
must also be paid (this is not necessarily the FINAL BILL).
When Can I Pay It?
It is recommended that the tax be paid and that transfer stamps
be obtained before closing. It is important to have all of
the necessary documentation and that the current water account
balance due has
been paid in full. The Finance Counter at City Hall, 1707
St. Johns Avenue, is open Monday-Friday, between the hours
of 7:30
AM - 5:00 PM.
What Methods of Payment may be used when Purchasing Real Estate
Transfer Stamps?
Currently, the City of Highland Park accepts funds
paid in cash or by cashier's check, certified check, or by attorney's
check if the attorney's check is pre-printed with "Attorney at law". Personal
checks are not accepted.
Where Can I Purchase Stamps?
In addition to the Finance Counter at City Hall, Real Estate Transfer
Stamps may be obtained through the mail. Simply download
the necessary forms, complete, and submit requests to:
City of Highland Park
Attn: Finance Division/RETT
1707 St. Johns Avenue
Highland Park, Illinois 60035
To schedule a final water bill reading, contact Dorothy Forrest,
Administrative Clerk, at (847) 926-1016.
Are There Any Exemptions to this Tax?
Yes. For a complete list of exemptions, please refer to Section
97.1004 of the City Code that addresses the Real Estate
Transfer Tax, or to page 2 of the Real
Estate Transfer Declaration Form.
In the event transfer tax stamps have been paid for a transaction
that may qualify for an exemption, click
here to obtain
a Real
Estate Transfer Tax Refund Application.
What if I Buy and Sell Properties Within
Highland Park?
Currently, the City provides for a rebate of real estate transfer tax, up to
$1,000, if certain criteria are met. Click
here to obtain
a Real Estate Transfer Tax
Refund Application.
What if I Need Further Information?
For further information on the City's Real Estate Transfer Tax,
view the detailed instructions, or call the City of Highland
Park's Finance Department at (847) 432-0800. |