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Illinois DOC fee will adjust for 2009; announcement expected Dec. 16

November 17, 2010

Illinois dealers won a hearty increase this year in the maximum documentary preparation fee they can charge dealers. Remember that the new fee, just as it historically has been, is indexed for inflation and will be adjusted each Jan. 1.

Annual adjustments to the state’s DOC fee are based on changes in the Consumer Price Index from Dec. 1 to Nov. 30. The U.S. Labor Department is scheduled to release November 2008 CPI data on Dec. 16, whereupon the Illinois attorney general’s office will compute the 2009 DOC fee.

The CATA will issue a special notice following any announcement from Attorney General Lisa Madigan.

Economists were hyperventilating after the CPI in October dropped 1.0 percent, the largest one-month decline ever. But the CPI on Oct. 31 still was 3.7 percent higher than it was 12 months earlier.

A 3 percent CPI increase would add $4.50 to the current $150 maximum DOC fee that an Illinois dealer could charge.

 

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