Real Estate Transfer Tax Guidelines
The Real Estate Transfer Tax is effective as of June 1, 2005.
The Real Estate Transfer Tax is the responsibility of the buyer.
To obtain a transfer stamp the following conditions must be met:
1. The property must be clear of all debts to the Village, including the most current water bill. To obtain a clearance letter and general real estate transfer tax information, call the Village of Romeoville Finance Department at (815) 886-7200. Clearance letters are valid for five (5) business days.
2. Seller must call to schedule a final meter reading at least one week before closing. This reading should be scheduled the day before or day of closing. A final meter reading is not required for an exempt transaction if the property has a water account in good standing and the name on the account remains the same. To schedule a final meter reading contact the Water Billing Department at (815) 886-7212.
3. When you are ready to have the deed stamped:
A. Provide the Village with your clearance letter (PDF). This is a sample form, you must call the Village to obtain the completed form for the property. A clearance letter is required for all transactions including exempt stamps.
B. Provide the Village with the original or copy of the deed.
C. For non-exempt transactions provide the Village with a signed copy of the State of Illinois Declaration Form (PTAX-203).
D. For exempt transactions provide the Village’s Certificate of Exemption. The deed for exempt transactions must contain the proper state statute exempt verbiage.
E.Be prepared to pay the tax ($3.50 per $1,000 of the full consideration price) for nonexempt transactions. There is a $40 processing fee for exempt transactions.
The Village prefers that the original deed be presented so that stamps can be affixed at the time of purchase. IF THE STAMPS ARE NOT AFFIXED TO THE ORIGINAL DEED AT THE TIME OF PURCHASE AND BECOMES LOST, THE STAMPS WILL HAVE TO BE REPURCHASED.
The Finance Department is available for these transactions Monday – Friday between the hours of 8:00 a.m. to 5:00 p.m.
Who is eligible for a refund?
1. Romeoville residents only, selling a home they reside in, in Romeoville, and buying another Romeoville home which becomes their new principal residence.
2. Must be owner & occupants
3. Must sell AND buy in Romeoville
4. Must be within 12 months of one another.
Transfer Tax Forms
Real Estate Transfer Tax Ordinance (PDF)
Real Estate Transfer Tax Guidelines (PDF)
Real Estate Transfer Tax Sample Clearance Letter (PDF)
This is a sample form, you must call the Village to obtain the completed form for the property. A clearance letter is required for all transactions including exempt stamps.
Real Estate Transfer Tax Exemption Certificate (PDF)
Real Estate Transfer Tax Refund Form (PDF)