Transfer Of TitleTaxesHARD
In Chicago, the total real estate transfer tax rate is approximately:
Correct Answer
D) $7.50 per $500
Chicago has one of the highest transfer tax rates, totaling approximately $7.50 per $500 ($15 per $1,000) when combining state, county, and city taxes.
Answer Options
A
$0.50 per $500B
$1.50 per $500C
$3.75 per $500D
$7.50 per $500Audio Lesson3 min
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Related Topics & Key Terms
Related Topics:
closing-costs-calculationchicago-real-estate-regulationstransfer-tax-exemptions
Key Terms:
Chicago transfer taxreal estate transfer taxCook County taxmunicipal transfer tax35 ILCS 200/31-1
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