HomeMy WebLinkAboutOrd 4646 05/17/1994 ORDINANCE NO. .4646
AN ORDINANCE AMENDING CHAPTER 8 ENTITLED
"REAL ESTATE TRANSFER TAX" OF THE
VILLAGE CODE OF MOUNT PROSPECT, ILLINOIS
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
the 17th day of May , 1994
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
17th day of May , 1994.
BH/caf
5/11/94
ORDINANCE NO. 4646
AN ORDINANCE AMENDING CHAPTER 8 ENTITLED
"REAL ESTATE TRANSFER TAX" OF THE
VILLAGE CODE OF MOUNT PROSPECT
WHEREAS, the corporate authorities of the Village of Mount Prospect have adopted
the 1990 BOCA Property Maintenance Code; and
WHEREAS, in order to provide for enforcement of a portion of the Property
Maintenance Code it is necessary to include regulations governing the Real Estate
Transfer Tax and the Revenue Stamps required.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That Section 8.808 of Article VIII entitled "Real Estate Transfer Tax"
of Chapter 8 of the Village Code of Mount Prospect, as amended, is hereby further
amended by deleting Section 8.808 in its entirety and substituting therefore the
following; so that hereinafter said Section 8.808 of Chapter 8 of the Village Code shall
be and read as follows:
"Sec. 8.808. Revenue Stamps Required.
A. The tax herein levied and imposed shall be collected by the Director of Finance
or his designee for the Village through the sale of revenue stamps, which shall
be caused to be prepared by said Director of Finance in such quantities as said
Director of Finance may from time to time prescribe. Such revenue stamps
shall be available for sale at and during the regular business hours of the
Village offices or at other locations designated by the Director of Finance.
Upon payment of the tax herein levied and imposed, the revenue stamps so
purchased shall be affixed to the deed or other instrument of conveyance. Any
person so using and affixing a revenue stamp or stamps shall cancel it and so
deface it as to render it unfit for use by marking it with his initials and the day,
month and years when the affixing occurs. Such markings shall be made by
writing or stamping in indelible ink or by perforating with a machine or punch.
However, the revenue stamp(s) shall not be so defaced as to prevent ready
determination of its domination and genuineness.
The Finance Director or his/her designee may not sell revenue stamps to the
owner of any real property or structure who has received a compliance order or
upon whom a lawful notice and order has been served or who has an
unsatisfied judgment in favor of the Village which has not been complied with or
satisfied, or who owes any fee to the Village.
B. It shall be unlawful for the owner of any real property or structure who has
received a compliance order or upon whom a lawful notice and order has been
served or who has an unsatisfied judgement in favor of the Village to sell,
transfer, mortgage, lease or otherwise dispose of such property or structure
until the provisions of the compliance order or lawful notice and order or
judgment has been complied with or satisfied."
SECTION TWO: That this Ordinance shall be in full force and effect from and after
hapter 8
Page 2 of 2
its passage, approval and publication in pamphlet form as provided by laws.
AYES: Clowes, Corcoran, Hendricks, Skowron, Wilks
NAYS: None
ABSENT: Hoefert
PASSED and APPROVED this 17th day of May, 1994.
Village P'resident /
ATTEST:
Carol A. Fields.
Village Clerk