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Real Estate Transfer Tax

In 1988, the Village Board adopted an Ordinance providing for a Real Estate Transfer Tax. When a real estate property is sold in Wilmette, a tax equal to $3.00 for every $1,000 (or fraction thereof) of consideration must be paid. This is the responsibility of the property buyer.
 

Example

Amount sold for
Divide by 1,000
Multiply by $3.00
Final amount owed
$410,750
$410,750/ 1,000 = 411
411 x $3.00= $1,233.00
$1,233.00
 

Final Water Meter Reading Required

Before the buyer is allowed to purchase their transfer tax stamps, the final water & sewer bill for theproperty must be paid in full (this is the seller's responsibility). Any other outstanding amounts owed to the Village (miscellaneous accounts receivable, unpaid parking tickets, etc.) must also be paid in full.
 
Property owners should contact the Finance Department at 847-853-7620 to schedule the final meter reading. Final meter reads are conducted on an as needed basis and should be scheduled two weeks prior to the required read date.
 
Transfer tax stamps should be in hand at the time of your closing.

The Real Estate Transfer Tax Declaration form is not available on-line. This may be requested through the main switchboard at 847-251-2700. This is a three part NCR form that is first submitted to the Village’s Finance Department in order to purchase transfer stamps. Two parts are then brought to the closing and lastly one part (with the stamps affixed) is filed with the Cook County Recorder of deeds.

For more information on Exempt Transactions & Federal Guidelines please click here

Departments

 
 
1200 Wilmette Ave., Wilmette, IL 60091
P. (847) 251-2700 F. (847) 853-7700
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