After three years of noncompliance with a 2023 U.S. Supreme Court ruling, Illinois lawmakers have passed a measure that would fundamentally change how counties and taxing bodies in the state can recoup delinquent property taxes.
For years, Illinois counties have sold property tax debt to investors who can ultimately seize the properties if their owners fail to redeem the delinquent property taxes. The nation’s highest court ruled it was unconstitutional to withhold the surplus equity from property owners who lose their properties in the process. Illinois is the only state affected by the ruling that has not yet reformed…