Changes in Real Estate Transfer Tax Procedures Effective September 1, 2008

Please be advised that on April 28, 2008, the City Council adopted an Ordinance amending procedures associated with the real estate transfer tax, effective for transfer tax forms submitted on or after September 1, 2008. The changes will ensure that the purchasers of real property in Highland Park are alerted to potential obligations that may be assumed when the buyer takes title of the property.

Real estate transfer tax declaration forms submitted on September 1, 2008, or later will be required to be accompanied by a Disclosure Statement, signed by both the buyer and seller at the time of contract signing, in a form prescribed by the City. The Disclosure Statement will identify potential obligations that may be associated with the property and instructions on how to contact the City for more information. In addition, the seller of property in Highland Park will be required to obtain and pay a final water bill for that address prior to being issued real estate transfer tax stamps. Click here for a copy of the Ordinance with the changes to the City Code highlighted for your reference. A copy of the Disclosure Statement is also attached.

Please be reminded that payments for real estate transfer tax stamps must be made by cash, cashier’s check, certified check, title company check, or a check issued by, and written on the account of, the attorney or law firm representing either party in the transaction. Checks must be made payable to “City of Highland Park.” No personal checks are accepted.

Additional information regarding the changes effective September 1, 2008 may be obtained by contacting the Finance Department at 847-432-0800.