US Home Sales Tax

Illinois transfer tax calculator

Illinois charges $0.50 per $500 for the state and $0.25 per $500 for the county, $1.50 per $1,000 in total. Chicago adds a much larger city tax, most of it paid by the buyer.

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Other closing costs cover title, escrow or attorney fees and recording. One percent is a common planning figure.

Estimated net proceedsIllinois ยท Rates verified November 2026
Pay to the order ofYou, the seller$373,400

Three hundred seventy-three thousand four hundred and 00/100 dollars

$400,000 sale, less $26,600 in costs and payoff

Itemised estimate
Sale price$400,000
Agent commission-$22,000
Transfer taxRate: $1.50 per $1,000 (0.15%) state and county. Usually paid by the seller.-$600
Other closing costs-$4,000
Mortgage payoff$0
You keep$373,400

How transfer tax works in Illinois

Rate
$1.50 per $1,000 (0.15%) state and county
Who usually pays
The seller pays the state and county tax. In Chicago the buyer pays $3.75 per $500 of the city tax and the seller pays $1.50 per $500.
Local taxes
Chicago charges $5.25 per $500: $3.75 from the buyer and $1.50 from the seller. Many suburbs have smaller taxes of their own.
Official source
Illinois Compiled Statutes 35 ILCS 200/31-10
Last verified

Illinois transfer tax at common sale prices

Sale priceTotal transfer taxSeller's usual shareSeller keeps before mortgage payoff
$150,000$225$225$140,025
$250,000$375$375$233,375
$400,000$600$600$373,400
$600,000$900$900$560,100
$1,000,000$1,500$1,500$933,500

Assumes a 5.5% agent commission and 1% in other closing costs, at the "Outside Chicago" rate. Change any figure in the calculator above.

Local rates in Illinois

CityTotal tax on a $400,000 saleSeller's usual share
Outside Chicago$600$600
Chicago$4,800$1,800

Questions Illinois sellers ask

How much is transfer tax in Illinois?

Illinois charges $1.50 per $1,000 (0.15%) state and county. On a $400,000 sale the total comes to $600, and the seller's usual share is $600.

Who pays the transfer tax in Illinois, the buyer or the seller?

The seller pays the state and county tax. In Chicago the buyer pays $3.75 per $500 of the city tax and the seller pays $1.50 per $500.

Are there local transfer taxes in Illinois?

Chicago charges $5.25 per $500: $3.75 from the buyer and $1.50 from the seller. Many suburbs have smaller taxes of their own.

How do I estimate my net proceeds in Illinois?

Start with the sale price, then subtract the agent commission, your share of the transfer tax, title and closing fees, and the balance left on your mortgage. On a $400,000 sale with a 5.5% commission and 1% in other costs, a Illinois seller keeps about $373,400 before paying off the mortgage.

Buying in Illinois instead? See taxes when buying a house in Illinois.

More on the basics: What closing costs does a seller pay?, Who pays the transfer tax, the buyer or the seller?, How to calculate net proceeds from a home sale.

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