HomeMy WebLinkAboutORDINANCES-1991-120-O-9111-18-91
4 1 - 120-0-91
AN ORDINANCE
Amending Title 3, Chapter 29 of the
Evanston City Code, Pertaining to the
Real Estate Transfer Tax
NOW BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That Section 3-29-2 of the City
Code of the City of Evanston, 1979, as
amended, be and hereby is amended to read as follows:
3-29-2: IMPOSITION OF TAX: A tax is imposed on the
transfer of title to real property located in
the City as evidence by the recordation of a deed by
any person or by the delivery of any deed or assignment
of interest of said real property, made after the first
day of May, 1986, 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.
(A) The tax imposed shall be five and no/100ths
dollars ($5.00) for every one thousand
dollars ($1,000.00) value or fraction thereof
as stated in the declaration.
(B) The term "deed" as used in this Section shall
mean all documents transferring or reflecting
the transfer of legal title, equitable title,
or both legal and equitable title to real
property, or the beneficial interest in a
land trust. Delivery of any deed shall be
deemed to have occurred when the transferee
or purchaser, or his representative or
agent, receives possession of the deed or in
the case of a land trust when the trustee
receives possession of a valid assignment of
a beneficial interest.
SECTION 2: That Ordinance 33-0-86 enacting the
real estate transfer tax be amended by
120-0-91
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deleting SECTION 3 therein, thereby removing the automatic
termination provision.
SECTION 3: That ordinances or parts of ordinances
in conflict herewith are hereby repealed.
SECTION 4: That this ordinance shall be in full force
and effect from and after its passage,
approval and publication in the manner provided by law.
Introduced: �l�J���21�116 , 1991
Adopted: /3 , 19 92
AT ES
City Clerk
Ap r )ved as t�) form:
Corpora on Counsel
Approv d:: ,
V
Mayor
2
1992--