Real Estate Transfer Tax
Real Estate Transfer Tax Procedure
Effective June 1, 1993, the Village of Niles tax on the transfer of real estate property is $3 per one thousand dollars 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 $35 occupancy permit fee.
The seller of the property must have an inspection done by the Village of Niles approximately five days prior to closing. The inspector conducts a basic inspection and takes the final water meter reading. The next day after noon, the seller can come in and finalize the water account through payment of the final balance.When the tax is paid, a completed declaration form and a copy of the Illinois Real Estate Transfer Declaration form must accompany payment. All forms must be filled out completely. There is a $25 administration fee for exempt stamps.
The transfer tax may be paid in person or through the mail. All in-person real estate transfer tax transactions must be submitted to the Finance Department window before 4:30 pm with all appropriate paperwork filled out ahead of time. All real estate transfer tax transactions conducted by mail must include all required documents and a self-addressed stamped envelope.
Please mail payments to:
Village of Niles Finance Department
1000 Civic Center Drive
Niles IL, 60714
As of December 16, 2020 the Village of Niles will no longer accept personal checks, business checks, realtor checks, or debit/credit cards for payment of the real estate transfer tax. Payments must be made with a cashier’s check, money order, title company check, real estate attorney firm check, or cash.
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 per $1,000 pending approval by the Finance Director.A copy of the Village of Niles Real Estate Transfer Declaration form and the Illinois Real Estate Transfer Declaration form are kept by the Village of Niles and the originals are given to the taxpayer to transmit to the county recorder of deeds.
Please note: Real estate transfer tax processing hours:
Monday through Friday 8:30am - 4:30pm
Please contact the Finance Department at 847-588-8030 with any questions.