City Of Aurora Exempt Stamp Form – Fill Out and Use This PDF

City Of Aurora Exempt Stamp Form PDF Details

In the bustling city of Aurora, located in the state of Illinois, the process of real estate transfer is meticulously governed by a specific documentation known as the City Of Aurora Exempt Stamp form, a critical component managed by the Finance Department situated at 44 East Downer Place. This comprehensive document serves as a Real Estate Transfer Tax Declaration, which plays a pivotal role in the conveyance of property within the city’s jurisdiction. Its main function is to record pertinent details regarding the transaction, including the address and permanent property index number, the state of the property (whether improved or a vacant lot), and the type of property involved, ranging from single-family detached homes to commercial or industrial properties. Additionally, the form captures the date of the deed, the type of deed, the full actual consideration or sale price of the real property, and the applicable amount of tax, calculated at a rate of $3.00 per $1,000 of the sale price or any fraction thereof. Importantly, it provides an option to check for exempt transactions which require an Exempt Transaction Declaration, a feature crucial for those eligible for exemptions from this tax. Further ensuring the integrity of the process, the form mandates the declaration of true and accurate transaction details by both the grantor (seller) and grantee (purchaser), alongside their respective signatures. In essence, the City Of Aurora Exempt Stamp form is an indispensable tool in the facilitation of property transfers, ensuring compliance with local regulations and the accurate calculation of taxes due, thereby contributing to the city’s fiscal health and the orderly transfer of property rights.