VILLAGE OF NILES
"Where People Count"
1000 Civic Center Drive, Niles, Illinois 60714 Telephone (847)588-8000
ECONOMIC DEVELOPMENT REAL ESTATE
TRANSFER TAX PROCEDURE
1. Effective June 1, 1993 the Village of Niles tax on the transfer of real property is three dollars ($3.00) per one thousand dollars ($1,000)or fraction thereof and is to be paid by the buyer. Real estate contracts dated after June 1, 1993 are subject to the tax. In addition, the buyer is responsible for a $25.00 occupancy permit fee.
2. The tax may be paid in person or through the mail. Payments should be sent to the Village of Niles Finance Department, 1000 Civic Center Drive, Niles IL, 60714. Our phone number is (847)588-8000. All real estate transfer tax transactions conducted by mail must include a stamped self-addressed envelope. No declaration will be returned to the sender without one.
3. The seller of the property must have an inspection done by the Village of Niles approximately 5 days prior to closing. The inspector conducts a basic inspection and takes the final water meter reading. The next day after 12:00 pm, the seller can come in to clear up the water account.
4. When the tax is paid, a completed declaration form and a copy of the real estate contract must accompany payment. The information required on the declaration is the property address, the permanent property tax index number, the date and the type of deed, the sale price, the tax due, the buyer’s and the seller’s names. If an exemption is requested, a copy of the deed as well as the applicable paragraph and section of the Ordinance allowing the exemption must be cited. There is a $25 administration fee for exempt stamps.
5. A Niles resident who sold his/her principal Niles residence and who purchases a residential structure within the Village to be used as his/her principal residence shall be entitled to a rebate of $2.00 per $1,000.00 pending approval by the Finance Director.
A copy of the declaration and real estate contract is kept by the Village of Niles and the originals are given to the taxpayer to transmit to the County Recorder of Deeds.
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Real Estate Transfer Tax Rebate Form