# Illinois — Real estate transfer tax by state: rate, who pays, brackets and first-time buyer relief

For Illinois, tax name is Real Estate Transfer Tax; state rate is 50¢ for each $500 of value or fraction of $500 stated in the declaration required by Section 31-25; citation is 35 ILCS 200/31-10, verified against its source on 2026-08-31.

- **State:** Illinois _(our reading, not quoted from the source)_
- **Tax name:** Real Estate Transfer Tax _(verified: appears in its own passage below)_
- **State rate:** 50¢ for each $500 of value or fraction of $500 stated in the declaration required by Section 31-25 _(verified: appears in the quote below)_
- **Citation:** 35 ILCS 200/31-10 _(verified: appears in the quote below)_

## What the source says

> (35 ILCS 200/31-10) Sec. 31-10. Imposition of tax. A tax is imposed on the privilege of transferring title to real estate located in Illinois, on the privilege of transferring a beneficial interest in real property located in Illinois, and on the privilege of transferring a controlling interest in a real estate entity owning property located in Illinois, at the rate of 50¢ for each $500 of value or fraction of $500 stated in the declaration required by Section 31-25.

## Where each value comes from

This source states these in separate places, so each value is shown with the passage that states it.

### Tax name

> (35 ILCS 200/31-1) Sec. 31-1. Short title. This Article may be cited as the Real Estate Transfer Tax Law.

## Source

- https://www.ilga.gov/legislation/ILCS/details?MajorTopic=&Chapter=&ActName=Property%20Tax%20Code.&ActID=596&ChapterID=8&ChapAct=35+ILCS+200%2F&SeqStart=91500000&SeqEnd=93300000

Last verified: 2026-08-31. Review by: 2027-08-31.
Part of [Real estate transfer tax by state: rate, who pays, brackets and first-time buyer relief](https://referencesource.org/state-real-estate-transfer-tax/).