Three Cook County delinquent real estate tax sales taking place in 2017

The 2015 Cook County Annual Tax Sale (2015 taxes due in 2016) will begin on April 3, 2017. Buyers must register by March 24, 2017. The Scavenger Tax Sale (3 or more years of tax delinquency) is scheduled to begin in July 2017. Lastly, the 2016 Annual Tax Sale (2016 taxes due in 2017) is scheduled to begin in December 2016.

Both property owners and tax buyers must be aware that regardless of the initial bid/penalty rate on the 2015 or 2017 tax sale certificate, taxes subsequent to the year purchased have a penalty rate of 12% per year “or portion thereof” pursuant to Section 21-355 of the Property Tax Code (35 ILCS 200/21-355). The redemption amount for Scavenger tax sales is slightly different per Section 21-260(f) of the Property Tax Code (35 ILCS 200/21-260).

Moreover, contrary to the statement “Once a case is taken to court, the owner will be given a final deadline to repay their taxes or face losing their property” in this newspaper article, owners and interested parties must be aware that the redemption period expires BEFORE the first court date listed in the Take Notices sent to interested parties.

If you have any questions related to Illinois tax sales, tax deeds and Indemnity Fund proceedings, please call or email or office at partner@flamm.com.

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