Home Selling in Palatine>Question Details

Fran, Both Buyer and Seller in 60067

Does Palatine have a real estate transfer tax? I've tried to look on their website for information, but have had no luck. I know other suburbs

Asked by Fran, 60067 Tue Jan 26, 2010

in the area have one, and just want to know if Palatine does too (and if it's the buyer or seller who is responsible).

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Answers

5
Hello Fran,

Please see the enclosed link for a break down of transfer fees. Palatine does not have one, however State of Illinois and Cook County do. They are not the type where you would have to go to the city and obtain by yourself, but it would be a part of your closing.

If you have any questions, let me know.

Mario@FourDaughtersRealEstate.com
0 votes Thank Flag Link Tue Mar 23, 2010
I don't believe Palatine has a transfer stamp either. However the county and state do have transfer stamps that will be levied to the seller function of the sale. Hope that helps and by the way, the adjacent community, Arlington Heights, does not levy a transfer tax stamp. The new odd tax is a $3.00 transfer stamps for either or both sides of the transaction that goes to the state, sometimes referred as Rod's B tax.
Web Reference: http://www.JanMcNulty.com
0 votes Thank Flag Link Sat Mar 6, 2010
Des Plaines has a $2 per thousand dollars of selling price. Seller pays. 80% of Chicagoland that does have these sometimes called "exit fees", the seller pays. A few exceptions are Chicago 7/1000 by buyer, Mount Prospeect 3/1000 by buyer. Addison, Lincolnshire, Niles, Wheaton and Wilmette---there are some of the others where the buyers pay.
Web Reference: http://www.MarysHomes.com
0 votes Thank Flag Link Tue Jan 26, 2010
Fran,
Palatine is one of the few cities that "does not" have transfer tax/stamp. If you have any other questions please feel free to contact me.
Have a good day!
Maggie Coakley
Baird & Warner
847-778-4425
http://www.maggiecoakley.com
0 votes Thank Flag Link Tue Jan 26, 2010
At this time Palatine does not have a transfer tax. That is just one more reason I like Palatine. Mary Zentz REMAX SUBURBAN Arlington Heights
Web Reference: http://www.MarysHomes.com
0 votes Thank Flag Link Tue Jan 26, 2010
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