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Documentary fee set at $55.39 for 2005

November 23, 2010

The maximum documentary service fee that may be charged in Illinois in 2005 is $55.39, the state's attorney general's office announced Dec. 17.

The $1.87 increase over the 2004 fee reflects a 3.5 percent rise in the federal Consumer Price Index for the 12-month period ending Nov. 30. The index is tracked by the U.S. Department of Labor.

The CATA developed a poster regarding the DOC fee that dealer members can post. Two copies of the poster are included for dealers with this newsletter. Limited additional copies are available upon request.

On the poster, the DOC fee amount is blank and left for the dealer to fill in; a dealer can charge any DOC fee up the maximum allowed, but every customer must be charged the same amount.

IMPORTANT: The new maximum fee may not be charged before Jan. 1.

 

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