Thinking about selling or buying in Clarendon Hills and wondering if “no village transfer tax” gives you an edge? Closing costs add up quickly, and you want every dollar to work in your favor. In this guide, you’ll learn how Illinois transfer taxes work, Clarendon Hills’ current status, what it could mean for your net, and exactly how to verify the numbers before you list or write an offer. Let’s dive in.
Transfer taxes in Illinois, explained
A real estate transfer tax is a tax on the transfer of property. In Illinois, multiple layers can apply: state, county, and sometimes municipal. The State of Illinois collects a transfer tax at recording using the PTAX-203 form.
The Illinois state rate is $0.50 per $500 of consideration. Title companies usually prepare the PTAX-203 and handle stamps at closing. Who pays can be dictated by local law or by contract, so always confirm what your purchase agreement says. Illinois Department of Revenue guidance explains the rules and process.
Clarendon Hills: current municipal status
According to the municipal transfer-tax list used by title companies, Clarendon Hills does not impose a village transfer tax stamp. You will still owe the Illinois state transfer tax, and the deed will be recorded as usual. See the title-industry reference for Clarendon Hills listed as “None.” ATG municipal listing. For state rules and the PTAX-203, see IDOR’s transfer tax page.
How nearby towns compare
Municipal policies vary across the region. In nearby Wheaton, a municipal transfer tax is reported at $2.50 per $1,000 of price. See the industry list used by settlement professionals for current rates and requirements. ATG municipal list.
For another example, River Forest lists a municipal transfer tax of $1.00 per $1,000 and provides stamp instructions on its website. River Forest transfer tax page.
What “no village transfer tax” could mean for you
Lower transaction costs can make a community more attractive to some buyers and can simplify negotiations. Industry and policy research also shows that transfer taxes can influence buyer behavior and market activity. A suburb without a municipal stamp can position itself as slightly more affordable at closing. See recent commentary on market effects here: regional report discussion.
That said, transfer taxes are just one factor. Pricing, inventory, condition, and timing often matter more. Also, who pays a transfer tax can be set by ordinance or negotiated in your contract, so the impact on your net depends on the deal terms. For the baseline state rules, review IDOR’s guidance.
A real-number example
Here is a simple illustration for a $750,000 sale. This is not a quote, just math to show the potential difference. Always verify the current rates for your property.
- Illinois state transfer tax: (750,000 ÷ 500) × $0.50 = $750. Source: IDOR.
- If a county transfer tax applied at $0.25 per $500: (750,000 ÷ 500) × $0.25 = $375. County participation varies across Illinois. See IDOR’s overview of layers.
- Wheaton municipal tax example at $2.50 per $1,000: (750,000 ÷ 1,000) × $2.50 = $1,875. Reference: ATG municipal list.
Total with state, potential county, and a Wheaton-type municipal tax would be $3,000. In Clarendon Hills, where no municipal tax is listed, the total would be the state tax and any county portion only, such as $1,125 in the scenario above if a county tax applied, or $750 if no county tax applies. Use your title company’s estimate to confirm the exact figures for your closing.
How to verify before you rely
Municipal policies can change. Use these quick steps to confirm your numbers for your address and date of closing:
- Contact the Village of Clarendon Hills to confirm whether a municipal transfer tax exists or is planned. Local reporting has covered home-rule discussions that sometimes include transfer-tax options. See context in this article.
- Ask your title company or closing attorney for an itemized estimate of all transfer taxes and stamps. They handle the PTAX-203 process and will know which stamps are required.
- Check county recording participation and any county transfer tax via your recorder’s office or the state’s MyDec/recording resources.
- Date your notes and keep them with your listing or offer packet so everyone is working from the same facts.
Could this change in Clarendon Hills?
It is possible. Local coverage has noted village discussions about home-rule and potential revenue tools, which could include a transfer tax if approved in the future. Stay in touch with the village and your title company for any updates. Read background coverage.
Bottom line for Clarendon Hills
Clarendon Hills is currently listed with no village transfer tax, which can be a modest selling point compared with nearby towns that do impose a municipal stamp. You will still pay the Illinois state transfer tax at recording. The true edge comes from a smart pricing strategy, strong preparation, and confident negotiation.
If you are planning a move in Clarendon Hills, get a clear cost estimate and a plan to maximize your net. Reach out to Kathy Szuba for a precise, local strategy and a calm, well-communicated path to closing.
FAQs
Does Clarendon Hills charge a municipal transfer tax?
- According to title-industry references, Clarendon Hills does not currently require a village transfer tax stamp; still confirm with the village and your title company before closing. Source: ATG listing.
How much is the Illinois state transfer tax and who usually pays it?
- The state rate is $0.50 per $500 of price, collected at recording with the PTAX-203; payment responsibility can be set by local ordinance or negotiated in the contract. Source: IDOR guidance.
What would a municipal transfer tax add on a $750,000 sale?
- In Clarendon Hills, the municipal portion is currently $0; by comparison, a Wheaton municipal tax at $2.50 per $1,000 would be about $1,875, plus state and any county portions. Sources: ATG municipal list, IDOR rate.
Could Clarendon Hills add a transfer tax later?
- It is possible if policy changes are adopted; local reporting has covered home-rule discussions, so verify status for your timeline. Source: background article.
How do I confirm my exact transfer taxes before closing?
- Ask your title company for a written estimate, confirm city-village policy directly, and review county participation through the recorder or state MyDec resources; then align your contract accordingly.
