On March 20, when Gov. J.B. Pritzker issued a “stay at home” Executive Order, among the businesses permitted to continue operating were: “professional services, such as legal services, accounting services, insurance services, real estate services (including appraisal and title services).”

The intent of the language cited above is to permit the continued operation of real estate services such as brokerage and other services necessary to close real estate transactions.

What was not entirely clear in the Executive Order was what local governments would see as their “essential services” to the public. Our team of local governmental affairs directors contacted most municipalities in Illinois to see if they would still be processing real estate transfer tax payments and whether other point-of-transfer requirements would be performed.

The issuance of transfer tax stamps is essential for the recordation of a deed, and therefore is a prerequisite in most real estate closings.

Good news: Most home rule municipalities (only home rule municipalities can impose a transfer tax) are continuing to process payments. Many of them, in an attempt to comply with social distancing requirements, made some modifications to their procedures or practices.

We have compiled a list at www.IllinoisRealtors.org/covid19-local showing the latest information we have from the vast majority who responded. This information is current as of March 25, 2020.

There are a few municipalities which did not respond to our inquiries. Also, there are a few that completely shut down this service (and other services).

For the most up-to-date information in your area, please visit your municipality’s website.

 

Visit www.IlllinoisRealtors.org/covid19 for the most up-to-date information on the COVID-19 coronavirus outbreak that may impact your business.