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Home My WebLink AboutG28-95 t CITY OF ELGIN ORDINANCE NO. G28-95 AN ORDINANCE Repealing the Real Estate Transfer Tax and Providing for a Real Estate Transfer Stamp Requirement ADOPTED BY THE CITY COUNCIL OF THE CITY OF ELGIN ON THIS 10TH DAY OF MAY, 1995 Published in pamphlet form by authority of the City Council of the City of Elgin, Kane and Cook Counties, Illinois, on this 11th day of May, 1995 . STATE OF ILLINOIS ss . COUNTY OF KANE CERTIFICATE I , Dolonna Mecum, certify that I am the duly appointed and acting municipal clerk of the City of Elgin, Cook and Kane Counties, Illinois . I further certify that on May 10, 1995, the Corporate Authorities of such municipality passed and approved Ordinance No. G28-95, entitled An Ordinance Repealing the Real Estate Transfer Tax and Providing for a Real Estate Transfer Stamp Requirement which provided by its terms that it should be published in pamphlet form. The pamphlet form of Ordinance No. G28-95, including the Ordinance and a cover sheet thereof, was prepared, and a copy of such Ordinance was posted in the municipal building, commencing on May 11, 1995, and continuing for at least ten days thereafter. Copies of such Ordinance were also available for public inspection upon request in the office of the municipal clerk. DATED at Elgin, Illinois, on May 11, 1995 . Municipal Clerk (SEAL) r _ . Ordinance No. G28-95 AN ORDINANCE REPEALING THE REAL ESTATE TRANSFER TAX AND PROVIDING FOR A REAL ESTATE TRANSFER STAMP REQUIREMENT WHEREAS, on April 27 , 1994 , the City Council of the City of Elgin adopted Chapter 4 . 26 of the Elgin Municipal Code, providing for a real estate transfer tax; and WHEREAS, the City Council has since determined that it is necessary and desirable to amend said ordinance by deleting the provisions of the tax within said ordinance and providing for a real estate transfer stamp requirement in lieu thereof; and WHEREAS, experience with the real estate transfer tax ordinance and the requirement of a real estate transfer stamp has shown that a real estate transfer stamp is an efficient and effective means in collecting fees and other monies due and owing the city and otherwise enforcing the ordinances of the city; and WHEREAS, the City of Elgin is a home rule municipality as defined in Article 7 Section 6a of the 1970 Constitution of tow the State of Illinois; and WHEREAS, a home rule unit may exercise any power and perform any function pertaining to its government and affairs; and WHEREAS, providing for a real estate transfer stamp requirement pertains to the government and affairs of the City of Elgin. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS : Section 1 . That Chapter 4 . 26 of the Elgin Municipal code, 1976, as amended, be and is hereby amended in its entirety to read as follows : "Chapter 4 . 26 REAL ESTATE TRANSFER STAMP 4 .26 . 010 Definitions . "Beneficial Interest" : Any interest, regardless of how small or minimal such interest may be, in a land trust, held by a trustee for the benefit of beneficiaries of such land trust. "Person" : Any natural person, receiver, administrator, executor, conservator, assignee, trust in perpetuity, trust, estate, firm, copartnership, joint venture, club, company, joint stock company, business trust, municipal corporation, political subdivision of the State of Illinois, domestic or foreign corporation, association, syndicate, society or any group of individuals acting as a unit, whether mutual, cooperative, fraternal, nonprofit, or otherwise, and the United States or any instrumentality thereof. Whenever the term "person" is used in any clause prescribing and imposing a penalty, the term as applied to associations shall mean the owners or part-owners thereof, and as applied to corporations, the officers thereof . "Recordation" : The recording of deeds with the Office of the Recorder of Deeds of Cook or Kane County or the Registration of Deeds with the Registrar of Titles of Cook County, Illinois . 4 . 26 . 020 Real Estate Transfer Stamp Requirement. A. A real estate transfer stamp requirement is imposed on the transfer of title to real estate located in the city as evidenced by the recordation of a deed by any person or by the delivery of any deed or assignment of interest of said real r., property, whether investing the owner with the beneficial interest in or legal title to said property or merely the possession or use thereof for any purpose or to secure future payment of money or the future transfer of such real property. No person shall transfer title to real estate located in the city by recordation of a deed or by the delivery of any deed or assignment of interest of any real property, whether investing the owner with the beneficial interest in or legal title to said property or merely the possession or use thereof for any purpose or to secure future payment of money or the future transfer of any such real property without first obtaining a real estate transfer stamp as provided herein. B. Such real estate transfer stamp shall be issued by the finance director for the city and shall be available at and during the regular business hours of the city offices or at other locations designated by the finance director. Upon application for and the issuance of the real estate transfer stamp, the stamp so issued shall be affixed to the deed or other instrument of conveyance. Any person so using and affixing a real estate transfer stamp or stamps shall cancel it and so deface it as to render it unfit for reuse by marking it with his initials and the day, month and year when the affixing occurs . Such marking shall be made by writing or stamping in indelible ink or by perforating with a machine or punch. However the real estate transfer stamp shall not be so defaced as to prevent ready determination of its genuineness . 2 C. Applications for real estate transfer stamps shall be made on a form prescribed by the finance director. Such application shall show the date of the transaction which it evidences, the names of the grantor and grantee, the common address and the legal description of the property to which it relates, including permanent index number of the property which is the subject of the transfer. D. The finance director may refuse to issue real estate transfer stamps if any of the following conditions exist: 1 . Outstanding sum of money due the city from the property or property owner; 2 . Failure to license rental property subject to the city' s rental licensing ordinance; 3 . Any other violation of the Elgin Municipal Code; 4 . Failure to have a final read of the water meter or failure to have made final payment on any water or sewer bill . E. For the purpose of reviewing requests for real estate transfer stamps, the city shall process the request within three ( 3) working days . 4 . 26 . 030 Deeds . Every deed shall show the date of the transaction which it evidences, the names of the grantor and grantee, and a legal description of the property to which it relates, including permanent index number of the property which is the subject of the transfer. 4 . 26 . 040 Transfers in Trust. No trustee of real estate shall accept an assignment of beneficial interest in real estate located in the city without first obtaining a real estate transfer stamp from the assignor and assignee and unless a transfer stamp as set forth in this chapter has been affixed to the assignment. 4 .26 . 050 Violation--Penalty. It is unlawful for any person as seller or grantor to fail to obtain and affix a real estate transfer stamp herein provided, or for any purchaser or grantee to accept a conveyance where the real estate transfer stamp has not been obtained and affixed. Any person found guilty in a court of competent jurisdiction of violating, disobeying, omitting, neglecting or refusing to comply with or resisting or opposing the enforcement of any provision of this chapter upon 3 . �t conviction thereof, shall be punished by a fine of not less than $200 nor more than $1,000 . 4 .26 . 060 Severability. If any provision, clause, sentence, paragraph, section, or part of this chapter or application thereof to any person or circumstance, shall for any reason be adjudged by a court of competent jurisdiction to be unconstitutional or invalid, said judgment shall not affect, impair or invalidate the remainder of this section and the application of such provision to other persons or circumstances, but shall be confined in its operation to the provision, clause, sentence, paragraph, section or part thereof directly involved in the controversy in which such judgment shall have been rendered and to the person or circumstances involved. It is hereby declared to be the legislative intent of the city council that this chapter would have been adopted had such unconstitutional or invalid provisions, clause, sentence, paragraph, section or part thereof not been included. " 4 . 26 . 070 Effective Date. The provisions of this chapter shall be in full force and effect from and after June 1, 1995 . " eft. Section 2 . That all ordinances or parts of ordinances in conflict with the provisions of this ordinance be and are hereby repealed. Kevin Kell Y, May Y Presented: May 10, 1995 Passed: May 10, 1995 Vote: Yeas 7 Nays 0 Recorded: May 11, 1995 Published: May 11, 1995 Attest: i AeALL Dolonna Mecum, ty Clerk 4