Legislation promoted by Cook County Board President Toni Preckwinkle will provide a window of relief to local homeowners delinquent on property taxes. Governor Pat Quinn signed Senate Bill 1335 into law late Friday evening, after the president urged his office to do so without delay.
SB 1335 allows the Cook County Treasurer to delay the yearly tax sale for homeowners who are delinquent on their property taxes. As a result, approximately 100,000 homeowners will have additional months to pay previously due taxes before the treasurer is mandated to seek a judicial order to sell their property at the yearly tax sale.
“This bill will provide property tax relief to homeowners who are victims of today’s economic climate without any cost to the state of Illinois, ” Preckwinkle said.
The county will save approximately $750,000 in taxpayer funds that would have been spent in preparation for the early tax sale, which will now take place this summer.
President Preckwinkle thanked State Senator Heather Steans and State Representative Greg Harris for sponsoring the bill and for their support.