What is the Wilmette Transfer Tax
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
UPDATED 2019 Recently I had been showing homes in Wilmette IL to a couple moving here from out-of-state. They had chosen Wilmette as the community they wanted to live in because of the good home values, schools, beautiful Gillson beach and park, and convenient transportation.The husband noticed that there was a recurring notice in all of the listings. In the remarks section of the Multiple Listing sheet, it said "Buyer pays Wilmette transfer tax." He thought that sellers were being disingenuous by trying not to pay something they should be.I explained that no, ALL buyers of homes in Wilmette must pay a transfer tax of $3.00 per $1000 of home price. The transfer tax was adopted in 1988 and applies only to buyers. Sellers in Wilmette do not pay a transfer tax.If you purchase a $700,0...
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