Selling your home in Orland Park this spring? One small detail can slow everything down at closing: transfer tax stamps. You want a smooth timeline, clear net proceeds, and no last‑minute surprises. In this guide, you’ll learn who typically pays in Cook County, how the tax is calculated, when and how stamps are obtained, and simple steps to avoid delays. Let’s dive in.
What transfer tax stamps are
A transfer tax is a tax collected when real estate changes hands. In Cook County, the tax is paid when the deed is recorded. The “stamp” is proof the tax was paid so the county can accept the deed for recording.
In most suburban Cook County deals, including typical Orland Park sales, the county transfer tax is customarily a seller expense unless your contract says otherwise. It is negotiable, so make sure the purchase contract clearly states who pays any county and municipal transfer taxes.
Cook County rate and calculation
Cook County calculates its transfer tax as a dollar amount per $500 of consideration. The standard formula is:
- Sale price ÷ 500 × county rate per $500 = tax owed
Always verify the current rate on the Cook County Clerk’s recording and fee pages before you budget. County fee schedules can change.
Sample calculations for illustration
These examples show how the math works. Confirm the current rate on the Clerk’s site before you finalize numbers.
- Example rate: $1.50 per $500 (illustrative only)
- $300,000 sale price → 300,000 ÷ 500 = 600; 600 × $1.50 = $900
- $500,000 sale price → 500,000 ÷ 500 = 1,000; 1,000 × $1.50 = $1,500
State requirement: PTAX-203
Illinois requires a Real Estate Transfer Declaration, commonly called PTAX-203, for most property transfers. Your title company or closing attorney usually prepares and files it with the deed.
If you want to review the form or instructions, visit the Illinois Department of Revenue’s page for the Real Estate Transfer Declaration (PTAX-203).
Who handles stamps and when
In Cook County, the title company or your closing attorney typically:
- Prepares the deed and PTAX-203.
- Calculates transfer taxes based on the final contract and sale price.
- Collects the funds at closing from the responsible party named in the contract.
- Obtains or e-pays the county transfer tax at recording and applies the stamp or electronic proof.
The tax is paid when the deed is recorded. Practically, your closer collects the amount at the table and handles the recording process right after closing.
Orland Park municipal check
Some municipalities add their own transfer tax on top of the county tax. Many suburbs do not, but rules vary by town. For Orland Park, confirm any local requirements with the Village of Orland Park’s official site or by calling the village’s finance or administrative office. Your title company will also verify and include any municipal transfer taxes on your Closing Disclosure.
As an example of a separate municipal tax within Cook County, the City of Chicago has its own rules and rates. If you are selling property inside city limits, review the city’s guidance on the Real Property Transfer Tax.
Common pitfalls to avoid
Avoid these frequent issues that can delay recording or change your net proceeds:
- Assuming the buyer pays. In suburban Cook County, the seller typically pays the county transfer tax unless the contract says otherwise. Put responsibilities in writing.
- Forgetting to budget the tax. Add the transfer tax to your seller net sheet early so you do not have a shortfall on closing day.
- Missing or late stamps. If the deed reaches the Clerk without proper payment or proof, recording can be rejected and the deal delayed.
- Miscalculating the tax. Make sure your closer has the final, signed contract and all terms affecting consideration so the tax is computed correctly.
- Claiming exemptions without documents. Certain transfers may be exempt, but you must provide proper supporting paperwork at recording.
- Overlooking PTAX-203. Confirm your closer prepares and files it correctly and on time.
Seller checklist for a spring listing
Use this timeline to stay ahead of transfer tax details.
Pre-listing
- Confirm with the Village of Orland Park or your title company whether any municipal transfer tax applies.
- Ask your closer for an estimate of county and any municipal transfer taxes based on your projected price. Use the formula: sale price ÷ 500 × county rate per $500.
- If you expect an exemption or nonstandard deed (trust, LLC, intra-family), ask your attorney what documents you will need.
At listing and contract
- Spell out who pays county and any municipal transfer taxes in the purchase contract.
- Send the fully executed contract to your title company promptly so they can calculate accurate figures.
Two weeks before closing
- Request a preliminary closing statement that shows transfer tax amounts and who pays them.
- Confirm mortgage payoff timing so recording can happen without delays.
Day of closing
- Make sure the transfer tax amount is included in your closing funds if you are responsible.
- Verify that your closer will obtain and apply the county stamp or e-pay, and will file PTAX-203.
If a recording problem occurs
- Contact your closing attorney and title company immediately. Ask whether the deed must be revised, whether more funds or documents are needed, and how long recording will be delayed.
Quick reference: where to verify
- Cook County procedures and current fee schedule: Cook County Clerk recordings
- Illinois Real Estate Transfer Declaration: PTAX-203 form and instructions
- Orland Park municipal details: Village of Orland Park
- Example municipal tax within Cook County: City of Chicago Real Property Transfer Tax
Planning ahead removes surprises at the table. If you are preparing to list in Orland Park, we can help you estimate transfer taxes, coordinate with your title team, and keep your closing on track. Connect with Christine Wilczek and Jason Bacza for a streamlined sale and a clear, data-backed plan.
FAQs
Who usually pays Cook County transfer tax in Orland Park?
- In most suburban Cook County transactions, the seller customarily pays the county transfer tax, but it is negotiable and should be defined in your purchase contract.
When are transfer tax stamps purchased in Cook County closings?
- The transfer tax is paid at recording; your closer collects funds at the table and obtains or e-pays the stamp when submitting the deed for recording.
Do Orland Park sellers owe a local transfer tax too?
- Many suburbs do not have a municipal transfer tax, but rules vary by town; confirm with the Village of Orland Park or your title company before you list.
What is PTAX-203 and do I need it to sell?
- PTAX-203 is Illinois’s Real Estate Transfer Declaration required for most sales; your title company or attorney prepares and files it with the deed at recording.
How do transfer tax mistakes delay closing?
- Missing stamps, incorrect calculations, or unsupported exemptions can cause the Clerk to reject recording; verify details early with your closer to avoid delays.
