Le Lézard
Classified in: Business, Covid-19 virus
Subject: STP

Pappas: Taxpayers now have more time to pay delinquent Cook County property taxes


CHICAGO, June 10, 2020 /PRNewswire/ -- A new Illinois law increases from nine months to 13 months the time that taxpayers have to pay delinquent Cook County property taxes before they are offered to investors, giving more breathing room to homeowners and business people struggling to pay their bills, said Treasurer Maria Pappas, who helped draft the legislation.

"This additional time can make the difference between keeping your home and seeing it taken away," Pappas said today. "No one knows how long this economic downturn caused by the outbreak of COVID-19 will go on, but this legislation will provide help to hard-pressed taxpayers long after the pandemic is over."

At one time, property owners had a dozen months to pay delinquent taxes before the Annual Tax Sale. In 2014, the Illinois General Assembly shortened the time, which last year was nine months. Pappas has pushed to extend the time, an effort culminating in the of SB 685. Gov. J.B. Pritzker signed the bill into law on June 5, 2020.

"I am grateful to the Legislature for helping our most vulnerable taxpayers, and I am especially thankful to Rep. Mike Zalewski from Riverside, who sponsored the amendment that increased the time before the Tax Sale," Pappas said.

The Annual Tax Sale, required by state law, is the start of a legal process that can end in a loss of property ownership. Owners can avoid the Tax Sale by paying all delinquent taxes and interest before the Sale begins. Pappas obtained a court order to postpone this year's Tax Sale, originally scheduled for May 8, 2020. She will reschedule the Sale after the Governor's pandemic disaster declaration is lifted. More than 42,000 properties currently owe more than $130 million in delinquent taxes for Tax Year 2018 (due in 2019).

SOURCE Cook County Treasurer's Office


These press releases may also interest you

at 05:55
The "Construction in Japan - Key Trends and Opportunities to 2025 (H2 2021)" report has been added to ResearchAndMarkets.com's offering. The Japanese construction industry was severely impacted by the COVID-19 pandemic and the subsequent...

at 05:50
The "Global Behavioral Analytics Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering. The Global Behavioral Analytics Market is expected to grow at a CAGR of more than 40% during the forecast...

at 05:45
The "Global Foldable/Collapsible Baby Bath Tub Market Overview, 2021-2026" report has been added to ResearchAndMarkets.com's offering. The market research report titled- Global Foldable Baby Bath Tub Market Overview, 2021-2026 analyses trends for...

at 05:35
The "Mining In Central Africa 2021" report has been added to ResearchAndMarkets.com's offering. Central Africa is a significant producer of the world's cobalt, tantalum, manganese, diamonds and copper. The region's mining industry is benefiting from...

at 05:30
The "Biogas Market 2021-2028" report has been added to ResearchAndMarkets.com's offering. The global biogas market size is expected to reach USD 81.37 billion by 2028 and is expected to expand at a CAGR of 4.4% from 2021 to 2028. Electricity was the...

at 05:30
The self-inflating bag market size is set to grow by USD 71.79 mn from 2020 to 2024, at a CAGR of 5% according to the latest market report by Technavio. ...



News published on 10 june 2020 at 05:00 and distributed by: