title
AN ORDINANCE AMENDING CHAPTER 33, ARTICLE IV, REAL ESTATE TRANSFER TAX, AND ARTICLE VII, LAND TRUST TRANSFER TAX, OF THE DUPAGE COUNTY
CODE BY RESTATING AND AMENDING THE PREVIOUSLY ESTABLISHED COUNTY
TAX ON THE PRIVILEGES OF TRANSFERRING REAL ESTATE AND
BENEFICIAL INTERESTS IN REAL ESTATE
resolution
WHEREAS, on July 12, 2005, the DuPage County Board enacted Resolution FI-0116-05, Resolution Imposing A Tax On The Privilege Of Transferring Real Estate And Beneficial Interest In Real Estate, which should have been codified as DuPage County Code Chapter 33, Article IV, Real Estate Transfer Tax, to clearly reflect that the County imposes a real estate transfer tax upon the privilege of transferring both title to real estate and a beneficial interest in the real estate as provided in Section 5-1031 of the Counties Code (55 ILCS 5/5-1031); and
WHEREAS, on December 10, 1985, the DuPage County Board enacted Ordinance F-ORD-01-86, which is codified as DuPage County Code, Chapter 33, Article VII, Land Trust Transfer Tax, adopting the Land Trust Transfer Tax which imposes the real estate transfer tax upon the privilege of transferring a beneficial interest in a land trust regardless of whether a trust document transfer is recorded, as currently provided in the Land Trust Recordation And Transfer Tax Act, (765 ILCS 420/1 to 4, formerly cited as Ill.Rev.Stat. 1991, ch. 30, ?? 801 to 804) but the County Code still contains outdated references to the Illinois Revised Statutes and it is necessary to update such references to the current Illinois Compiled Statues; and
WHEREAS, the State of Illinois imposes a real estate transfer tax authorized under Real Estate Transfer Tax Law (35 ILCS 200/31-1 to 70, formerly the Real Estate Transfer Tax Act cited as Ill.Rev.Stat. 1991, ch. 120, ?? 1000 to 1008 ) that is collected by the DuPage County Recorder through the sale of rev...
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