File Updated First documented
Illinois Closing Cost Calculator
Illinois charges $0.50 per $500 in state tax plus a $0.25 county charge where imposed; Chicago adds $3.75 per $500 for buyers and $1.50 for sellers. Build your closing budget with separate state, county and municipal transfer taxes. Chicago buyers and sellers have different city obligations.
Illinois and Chicago transfer-tax worksheet
Ordinary taxable sale with confirmed PTAX-203 net value: state $0.50 per $500 or fraction plus the confirmed county charge. Chicago uses a separately confirmed city transfer price, with $3.75 per $500 assigned to the buyer and $1.50 to the seller. The allocation field applies only to state/county tax. Other municipalities require separate buyer and seller quotes. Exemptions and special transfers require review.
| Parameter | Amount | In effect | Primary source |
|---|---|---|---|
| Illinois tax stamps | $0.50 per $500 of net taxable value or fraction | Current return, PTAX-203 (R-10/24), line 19 | Illinois Real Estate Transfer Declaration |
| County tax stamps, where the county imposes them | $0.25 per $500 | Current return, line 20; county option per IDOR | Illinois Department of Revenue |
| Counting $500 units | Dollar lines round up to whole dollars; value ÷ 500 rounds up to the next whole unit | Current return, lines 11–18 | PTAX-203 instructions |
| Chicago city portion | $3.75 per $500 of transfer price, generally the buyer's | Current Municipal Code chapter 3-33 | Chicago Department of Finance |
| Chicago CTA portion | $1.50 per $500, generally the seller's | Transfers on or after April 1, 2008 | Chicago Department of Finance |
| Chicago small-transfer exemption | Transfers for less than $500 | Current Municipal Code chapter 3-33 | Chicago Department of Finance |
Prepare the Illinois taxable value first
The PTAX-203 return separates full consideration from personal property, exchange adjustments and qualifying mortgages remaining on the property. Its instructions round the relevant dollar entries upward to whole dollars before calculating $500 units. Enter the prepared net taxable value; the calculator does not guess these adjustments.
The state charge is $0.50 per $500 or fraction. Confirm whether the county imposes its additional $0.25 charge. At a $300,000 net value, those amounts are $300 and $150. A $300,001 net value uses 601 units, producing $300.50 and $150.25.
Chicago assigns the city portions separately
Chicago Municipal Code 3-33-030 charges the buyer $3.75 per $500 or fraction and assigns the $1.50 CTA portion to the seller for the ordinary transaction modeled here. Supply the city transfer price separately; the state return’s net value is not automatically the city basis.
For a confirmed $300,000 city transfer price, the buyer amount is $2,250 and the seller amount is $900. If the seller also pays all $450 of state and county tax, this worksheet includes $1,350 in seller costs and $2,250 in buyer costs. Changing the state/county split leaves the city obligations on their respective sides.
Compare transfer-tax scenarios
The local column combines county and both municipal portions. The combined total covers both parties; the calculator above shows the tax included for your selected side.
| Scenario | Taxable value | State tax | Local amount | Tax subtotal |
|---|---|---|---|---|
| Chicago: $300,000 transfer | $300,000.00 | $300.00 | $3,300.00 | $3,600.00 |
| Chicago: next fractional unit | $300,001.00 | $300.50 | $3,305.50 | $3,606.00 |
| Chicago: $500,000 transfer | $500,000.00 | $500.00 | $5,500.00 | $6,000.00 |
| Confirmed no municipal tax | $300,000.00 | $300.00 | $150.00 | $450.00 |
Outside Chicago, use the municipality’s own quote
The Illinois Department of Revenue notes that municipalities may impose additional transfer taxes. A postal address near Chicago does not establish that Chicago’s tax applies. Confirm the property’s municipal jurisdiction, then enter the buyer and seller municipal amounts separately. Both fields require a value, including an explicitly confirmed zero.
For a sale with $450 of state/county tax and no municipal charge, a 50 percent agreed allocation places $225 on each side. If the municipality instead quotes $600 to the buyer and $200 to the seller, the respective tax budgets become $825 and $425.
Low consideration and exemptions need different checks
Illinois section 31-45 exempts actual consideration below $100. The ordinary calculation checks actual consideration separately from the net taxable value. Chicago section 3-33-060 uses a city transfer-price threshold below $500. Neither threshold is a deduction from a taxable transfer.
Family transfers, exempt organizations, exchanges and other special deeds may require different treatment. The worksheet does not determine qualification or refunds. A confirmed full transfer-tax quote for your side replaces all modeled transfer taxes once, including a confirmed zero quote.
Complete cash to close or seller proceeds
Add title and settlement, recording, lender, escrow and prepaid quotes from the parties handling the transaction. For a buyer, down payment adds to cash required while earnest money and credits reduce it. For a seller, commission, credits and mortgage payoff reduce proceeds. Do not enter a municipal charge again if your full transfer-tax quote already contains it.
Last reviewed 2026-10-12. Worksheet methodology.
Questions about Illinois
- Does the Chicago buyer pay all transfer taxes?
- No. For an ordinary taxable Chicago transfer, the city portion is assigned to the buyer and the CTA portion to the seller. State and county charges are separate. Enter the agreed state/county allocation.
- Can I use Chicago rates for an Illinois suburb?
- No. Choose the other-municipality option and enter confirmed buyer and seller municipal tax quotes. Enter zero only after confirming no charge applies.