Cook County imposes a real estate transfer tax of $0.25 per $500 of value (Ord. 93-O-27, Ch. 74 Art. III) on top of the Illinois state tax of $0.50 per $500 (35 ILCS 200/31). There is no Los Angeles-style high-value mansion tax countywide.
Cook County Real Estate Transfer Tax (Ord. 93-O-27, codified at Ch. 74 Art. III) charges $0.25 per $500 of consideration on every deed transferring real property in the county, payable by the seller. Illinois adds a state tax of $0.50 per $500 under 35 ILCS 200/31-10. Chicago layers a separate $5.25 per $1,000 city transfer tax. Unlike Los Angeles Measure ULA (4-5.5% on transfers over $5M), Cook has no progressive mansion tax. A 2024 Chicago Bring Chicago Home referendum to add a tiered tax on $1M+ sales was rejected by voters.
Failure to pay or evading the transfer tax voids the deed recording and triggers penalties of 100% of tax owed plus interest under Ch. 74 Art. III.
See how Evanston's mansion tax (measure ula) rules stack up against other locations.
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