The Village does not currently levy a local property tax to fund its general fund operating programs such as street maintenance, snow plowing and public safety. The Village funds most of its operation from user fees and charges, license, permit and inspection fees, fines and inter-governmental tax receipts from sales and income taxes as well as grants. The Village does levy a 6% tax on telephone, and a 5% tax on gas and electric utility use. The Village requires the purchase of a real estate transfer tax stamp whenever real estate is sold or transferred in the Village. The cost of a Real Estate Transfer Tax Stamp is $3.00/$1,000 of the property’s selling price rounded up to the next thousand of the sale price. The final water bill along with any other outstanding bills owed the Village must be paid before a real estate transfer tax stamp can be issued. The transfer tax stamp must be obtained prior to recording the transfer of deed with the DuPage County Clerk. Residents moving within the Village are eligible for a refund of the entire amount of the real estate transfer tax. Refund applications must be made within 18 months of the property’s sale. Please contact the Finance Department to schedule a final water meter reading and to obtain a real estate transfer tax refund application
Refund of Tax: Section 5-10-15 - A grantor, seller, assignor, or transferrer who has paid the tax provided for in this article shall be entitled to a refund of such tax in the event such grantor, seller, assignor, or transferrer satisfies all of the following requirements:
(A) He/she was the grantor or occupier of a property, including residential, commercial or industrial property within the corporate limits of the Village as to which taxes were paid pursuant to this article.
(B) He/she did not rent or lease any portion of the previously owned dwelling or real estate to another person or persons and must have resided in the house being sold for a period of one year within the last three years prior to sale.
(C) He/she has purchased and occupies at the date of the application for refund another property within the Village as a replacement for the property sold.
(D) He/she makes the application for refund not later than one year after the tax payment has been made and provides adequate evidence of the fulfillment of each requirement of refund.
To print the instructions and form for a Real Estate Transfer Refund please click on the following link Real Estate Transfer Refund.