Taxes

Food and Beverage Tax


The village levies a 1% tax on the sale of prepared food and beverages.

Real Estate Transfer Tax


Real Estate Transfer Tax is $3 per thousand. Values less than $500 will be rounded down to the nearest $1,000 and rounded up if $500.01 or more.

Sales Tax


The general merchandise sales tax rates for Cook and Lake counties are 10.0% and 8.0% respectively. The sales tax rate on qualifying food and drugs is 2.25% in Cook County and 1.75% in Lake County. The village receives 1% of the state's base sales tax rate and an additional 1% Home Rule sales tax.

In addition, the tax rate on food and beverages sold at restaurants in the Cook County portion of Buffalo Grove is 11.0% (e.g. 10.0% for sales tax and 1.0% for food and beverage tax). In the Lake County portion of Buffalo Grove, the total tax rate on food sold at restaurants is 9.0% (e.g. 8.0% for sales tax and 1.0% for food and beverage tax).

Property Tax


The property tax is an ad valorem tax, meaning that the tax is based upon the value of property. It is a local tax imposed by local government taxing districts (e.g., school districts, municipalities, counties) and administered by local officials (e.g. township assessors, chief county assessment officers, local boards of review, county collectors).

Utility Taxes


Telecommunications Tax


The State of Illinois collects a 6% telecommunications tax on behalf of the village.

Natural Gas Tax


The village has instituted a utility use tax at the rate of five cents per therm for natural gas.

Electricity Tax


The village has instituted a utility use tax on a sliding scale based on the consumption of electricity. The first 2,000 kilowatt hours consumed will be billed at.0061 cents per kilowatt hour.