Selling your New Lenox home and unsure what transfer taxes you’ll owe or how your deed gets recorded? You’re not alone. These closing details can feel technical, especially when you just want a smooth sale and a clean handoff. In this guide, you’ll learn what taxes may apply, which forms you need, how recording works in Will County, and what to expect on your closing statement. Let’s dive in.
Illinois transfer tax basics
Illinois uses the Real Estate Transfer Declaration, Form PTAX-203, to report consideration and compute applicable transfer tax. Most sales require this form or a qualifying exemption noted on the deed. You can review instructions and exemptions in the state’s official guidance for PTAX-203.
State documentary tax
Illinois charges a state documentary transfer tax that is commonly expressed as 0.50 dollars per 500 dollars of consideration. Title and closing professionals use the PTAX system to compute the exact amount.
- Example: A 350,000 dollar sale price is 700 increments of 500 dollars. Multiply 700 by 0.50 dollars for a 350 dollar state transfer tax. For a walkthrough of the math, see this Illinois transfer tax guide.
County and village taxes
Counties may add a separate county option tax of up to 0.25 dollars per 500 dollars. Whether a county actually imposes this tax varies. Review the statute that authorizes county transfer taxes here, then confirm if Will County collects it before you budget.
Municipalities can also adopt their own transfer taxes where authorized. Most do not, but some do. For a plain‑English overview of how Illinois transfer taxes stack at the state, county, and municipal levels, see this Illinois transfer tax overview. Always confirm with the Village of New Lenox if you need to know whether the village collects a municipal transfer stamp.
Who completes forms and who pays
In a typical Illinois closing, the title company or your closing attorney prepares PTAX forms, calculates state and any local transfer taxes, and secures stamps or electronic authorization. Many sellers in Illinois customarily pay the state portion, but payment is negotiable and set by your contract. See common allocations and cost examples in this practical guide to Illinois closing costs.
Illinois also supports electronic transfer tax processing through the MyDec system, which some counties use for stamps and authorizations. Ask your title company if they will process your transfer tax via MyDec.
Recording your deed in Will County
The Will County Recorder of Deeds maintains land records and accepts documents in person, by mail, and through approved e‑recording vendors. Your title company usually submits your deed for recording as part of closing. For office information and contact details, see the Will County property records page.
Required documents at recording
- Form PTAX-203 or a valid exemption on the deed. See the state’s PTAX-203 instructions.
- Executed deed with proper legal description and correct names.
- Notarial Record and, if applicable, a Plat Act Affidavit for certain land divisions. Title professionals will assemble what Will County requires.
Timing after closing
If your documents are e‑recorded, posting can happen faster, though full indexing and the return of recorded copies can take several days to a few weeks depending on workload or corrections. See Will County recording practices and tips on the Recorder information page.
Fees and recent local changes
Illinois counties may use predictable fee schedules for recording. Local reporting indicates the Will County Board approved a revised Recorder fee schedule to take effect October 1, 2025. Because counties change fees by resolution, verify the current amount with the Recorder before quoting a number. Here is one report noting the change in Will County’s schedule: Will County Board fee schedule update.
Exemptions you should know
Some transfers qualify for statutory exemptions that remove the tax or change the filing requirement. Common examples include transfers that only confirm title without new consideration, certain transfers between spouses, deeds into or out of qualifying trusts, deeds for less than 100 dollars, and transfers to government bodies. Review exemptions and required notations in the state’s PTAX-203 instructions.
What to expect on your closing statement
- State transfer tax calculated through PTAX. Custom often places this with the seller, but your contract controls.
- Possible county transfer tax if imposed. The county option tax is authorized by statute, so confirm whether Will County collects it. See the county tax authority statute.
- Possible municipal transfer tax if the village imposes one. Most municipalities do not, but some do. Review this Illinois transfer tax overview, then call the Village to confirm.
- Recorder’s recording fee for the deed. Will County’s schedule changed by board action in 2025. Confirm the current fee with the Recorder. See this local notice of the fee schedule update.
- Other common items: owner’s title insurance policy, prorated property taxes, HOA fees, and any mortgage payoffs. For ballpark ranges and who commonly pays what, review this guide to Illinois closing costs.
Seller checklist before recording
- Confirm in your purchase agreement who pays each item, including transfer taxes, recording fees, and title insurance. See common allocations in this Illinois closing costs guide.
- Verify your legal description and the spelling of names. Recording errors cause delays. See Will County recorder info and tips on the Recorder page.
- Ensure PTAX-203 is complete and signed. If claiming an exemption, make sure the correct exemption code and language appear where required.
- Check the current Will County recording fee schedule and accepted payment methods, and confirm if your title company will e‑record. The Will County property records page is a good starting point.
- Ask your title company if they will submit transfer tax details and stamps electronically through MyDec.
Ready to sell with confidence
With the right prep, transfer taxes and recording become a simple step in your closing, not a surprise. If you want a guided, detail‑first sale in New Lenox, connect with the local team that blends design‑forward marketing with precise contract and closing execution. Reach out to The CM Sells to start your sale on the right foot.
FAQs
What is Form PTAX-203 and when is it required in Illinois?
- Most sales require a Real Estate Transfer Declaration, Form PTAX-203, or a valid statutory exemption noted on the deed at recording.
Who usually pays transfer taxes in a New Lenox sale?
- By local custom the seller often pays the state portion, but payment is negotiable and governed by your purchase contract and closing statement.
How long does Will County take to record a deed after closing?
- E‑recorded documents often post faster, but full indexing and return copies can take several days to a few weeks depending on workload or corrections.
Does the Village of New Lenox have its own transfer tax?
- You should confirm directly with the Village; some Illinois municipalities impose a transfer tax while many do not.
How do I estimate Illinois state transfer tax on a 350,000 dollar sale?
- Divide 350,000 by 500 to get 700, then multiply by 0.50 dollars for a 350 dollar state transfer tax; your title company will finalize the amount.
