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HOW MUCH WILL MY CLOSING COSTS BE?
November 2, 2018
I THINK MY PROPERTY IS OVER ASSESSED AND THEREFORE I DO NOT WANT TO GIVE THE FULL TAX PRORATION, WHAT CAN I DO?
November 2, 2018
Published by known at November 2, 2018
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    In Illinois, real estate taxes are paid in arrears, meaning this year, you are paying for last year’s taxes.  As such, at the closing, you must give the buyer a tax credit for the period you owned the home. This is usually prorated at either 105% or 110% because we assume that taxes will increase.

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