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BankersOnline.com Forums State-Specific Compliance Issues Illinois Illinois Property Tax Benefits Form
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#2276498 - 10/07/22 04:52 PM Illinois Property Tax Benefits Form
Newbie06 Offline
Platinum Poster
Joined: Mar 2006
Posts: 738
In Indiana we have a Property Tax Benefits form that is provided to mortgage customers for tax purposes. Does Illinois have something similar to this? We have searched online but are coming up short.

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#2276501 - 10/07/22 05:17 PM Re: Illinois Property Tax Benefits Form Newbie06
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
I do not show such a required document in either State. Do you have a citation for the one in Indiana?
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#2276514 - 10/07/22 07:58 PM Re: Illinois Property Tax Benefits Form Newbie06
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
IC 6-1.1-12-43 and IC 24-4.5-3-701
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2277389 - 10/31/22 07:03 PM Re: Illinois Property Tax Benefits Form Newbie06
Amy S Offline
100 Club
Joined: Sep 2020
Posts: 224
As a homeowner in Illinois, I have never seen this. I bought my home in 2018.

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#2277397 - 10/31/22 08:56 PM Re: Illinois Property Tax Benefits Form Newbie06
Eric The Underwriter Offline
Junior Member
Joined: Sep 2018
Posts: 41
As a lender in Illinois, I have never seen anything like this. I am curious though...as we do lend in IN. The citation Dan posted indicates the responsibility is on the Closing Agent. Are you acting as the closing agent in your transactions? I would think this would fall on the title company (assuming a title company or settlement agent is handling the actual closing).

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#2277412 - 11/01/22 03:46 PM Re: Illinois Property Tax Benefits Form Newbie06
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Eric, we don't lend outside of IN but as Randy stated above I do not believe IL has such a requirement. The IC cites quoted are for IN.
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The opinions expressed are mine and they are not to be taken as legal advice.

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