Real Estate Transfer Tax
Real Estate Transfer Tax Procedure
Real estate transfer stamps may be processed and purchased either in-person with the Finance Department at Niles Village Hall or by submitting documents and payment by mail. Before a real estate transfer stamp can be issued the property must be free of liens, violations, and cannot have any outstanding bills owed to the Village. The cost of the tax stamp is three dollars ($3.00) per one thousand dollars ($1,000) or fraction thereof and is to be paid by the buyer. The cost for an exempt stamp is twenty-five dollars ($25.00).
The seller of the property must contact the Finance Department at 847-588-8030 ten (10) days prior to the closing of the sale to allow the Village to initiate a final water reading and a property search to determine whether there are any outstanding fines, fees, or property violations.
A completed Niles Real Estate Transfer Declaration Form and a copy of the Illinois Real Estate Transfer Declaration Form must accompany the tax payment. All forms must be filled out completely. If the declaration forms reflect the property will not be owner occupied, a Rental License Application is required to be completed and submitted when purchasing the transfer stamp. Rental licenses are non-transferable when a property is sold.
To qualify for a tax-exempt stamp, please include a completed Niles Real Estate Transfer Declaration Form, a copy of the Illinois Real Estate Transfer Declaration and an executed copy of the deed that is being filed. There is a twenty-five dollar ($25.00) administrative fee for an exempt stamp. Exempt stamps cannot be issued until all outstanding fines and fees are paid. Please contact the Finance Department at 847-588-8030 to verify a tax-exempt stamp can be issued.
Payment can be made with a cashier’s check, money order, title company check, attorney firm check, or with cash. The Village cannot process transfer stamp payments with a debit/credit card or personal/business/realtor check.
All in-person transactions must be submitted to the Finance Department before 4:30 pm, with all necessary paperwork filled out correctly, ahead of time. All mailed requests must include the required documents, payment and a self-addressed postage paid envelope.
Village of Niles
1000 Civic Center Drive
Niles, IL 60714
Completed forms can be emailed to firstname.lastname@example.org. Please include the property address within the subject line.
Please do not email final water reading or property search requests, you must call the Finance Department at 847-588-8030 to initiate this process.
Questions regarding the Rental Application Form and rental licensing can be directed to Kim Delia at 847-588-8044.