Whenever real estate is sold within the Village the buyer must purchase a real estate transfer stamp prior to closing and recording of documents. Revenue generated from transfer stamp sales funds infrastructure and capital costs.
Village of Lincolnshire Checklist for Sale of Property
Are you Selling or Buying property in Lincolnshire?
MyDec/PTAX-203 Forms
Exemptions
The Village prepares an exemption letter (exempt stamp) upon request; requests are completed in 24-48 hours. Transactions exempt from real estate transfer stamp purchase include:
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Transactions in which the actual consideration is less than $1,000.00 (i.e. moving property into or out of a trust). Requests for this type of transaction must include:
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A copy of the executed deed (not the original).
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The deed must contain both the address and PIN.
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A contact name and phone number.
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A mailing address for the completed letter.
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When the property is outside Lincolnshire corporate limits (i.e. homes in nearby, unincorporated areas). Requests for this type of transaction must include:
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A copy of the PTAX 203, MyDec document from MyTax Illinois, or deed (not the original).
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A contact name and phone number.
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A mailing address for the completed letter.
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If the Village provides water service to the property the final water bill must be paid before the exemption letter will be prepared.
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Submit your request for Exemption Letters using this Online Form.
Regular mail - 1 Olde Half Day Rd., Lincolnshire, IL 60069
A full list of exemptions can be found in the Village Code, 3-1-6-4.
Transfer Stamp Details
Please be advised transfer stamps will not be sold if there are outstanding charges or issues with the property (unpaid water bill, outstanding fines and fees, absence of backflow testing documentation and filing, and any other debts owed to the village).