Real Estate Transfer Tax Stamps
Anyone who buys property within the City limits must purchase real estate transfer tax stamps at the rate of $2.50 for every $1,000 of property. According to the Wheaton Municipal Code:
“A tax is imposed on the privilege of transferring title to real estate within the corporate limits of the city as represented by the deed that is filed for recordation and on the privilege of transferring a beneficial interest in real property which is the subject of a trust as represented by the trust document that is filed for recordation, at the rate of $2.50 for each $1,000.00 of value or fraction thereof stated in the declaration provided for in this article. The tax herein levied shall be in addition to any and all other taxes.
The ultimate incidence, and liability for payment, of the tax imposed by this article shall be borne by the grantee of any deed and the grantee, assignee, or transferee of any instrument conveying the beneficial interest in real property which is the subject of a land trust subject to this article.”
Acceptable methods of payment include: cash, check, credit card and debit card.
Real Estate Transfer Tax Payment Procedures
The following documents should be brought to the Wheaton City Hall by the purchaser/buyer or grantee of real property:
- Copy of the completed Illinois Real Estate Transfer Declaration (PTAX-203).
- Completed City of Wheaton Real Estate Transfer Tax form (pdf).
- Completed City of Wheaton Utility Account Application Form (pdf).
Please note that property deeds or trust documents that are exempt from the real estate transfer tax requirement are still required to receive a $0 value stamp and notation of eligibility of exemption.