County Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL) | Practical Law

County Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL) | Practical Law

A Practice Note discussing county real estate transfer taxes (including Cook County) imposed on the transfer or conveyance of an interest in Illinois commercial and residential real estate. This Note describes common types of transfers subject to county transfer taxes, the steps for reporting and paying county transfer taxes, declaring exemptions, and fulfilling associated recording requirements, and the unincorporated Cook County zoning compliance certification.

County Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL)

Practical Law Practice Note w-036-5850 (Approx. 14 pages)

County Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL)

by Practical Law Real Estate
MaintainedIllinois
A Practice Note discussing county real estate transfer taxes (including Cook County) imposed on the transfer or conveyance of an interest in Illinois commercial and residential real estate. This Note describes common types of transfers subject to county transfer taxes, the steps for reporting and paying county transfer taxes, declaring exemptions, and fulfilling associated recording requirements, and the unincorporated Cook County zoning compliance certification.