Home Selling in Cicero>Question Details

Cmalone, Home Seller in Cicero, IL

my in-laws are selling a home in Cicero,IL and the village has told them that they must pay $1300 after the closing as part of a "sellers

Asked by Cmalone, Cicero, IL Tue Oct 11, 2011

fee". What?

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I think Cicero has a transfer tax that comes out to about 1% of the sale price + a $50 inspection fee. I assume your in-laws are selling it for about $130,000?

A lot of towns have these taxes, just as the state and all the counties have similar taxes. It's a revenue stream for them. What do you get for this tax? Nothing. But you're probably contributing to some over-sized government pension where the beneficiaries get 100K per year for doing nothing. This is just another example of why we are over-taxed here in Illinois and need to throw all these bums out.
2 votes Thank Flag Link Tue Oct 11, 2011
Yes - transfer taxes. Some villages require sellers to pay, some require buyers to pay and some require them to split it. Most contracts indicate that whoever the village says should pay the transfer taxes. Unfortunately, everyone has their hand in the kitty on home sales. Transfer taxes are not negotiable and required. The only way to counter them is for citizens to make their voices heard in their own municipalities.
1 vote Thank Flag Link Tue Oct 11, 2011
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