To educate members, Illinois REALTORS® and several local associations recently hosted a virtual discussion regarding the annual Cook County tax sale, featuring Treasurer Maria Pappas.
Over 200 members joined a virtual meeting on April 6 to learn more about the annual Cook County Tax Sale. This event was co-sponsored by Illinois REALTORS®, Chicago Association of REALTORS®, Mainstreet Association of REALTORS®, Oak Park Area Association of REALTORS®, the REALTOR® Association of the Fox Valley and the Cook County Treasurer’s Office.
Cook County Treasurer Maria Pappas and moderator Sheila Dantzler described the process for the annual tax sale that will take place on May 12, 2022. They also discussed how REALTORS® can help clients keep a property if they fall behind on property tax payments and shared information about a program in Cook County called Black and Brown Houses Matter.
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Next month the tax sale for the most recent delinquent year, 2019, will be initiated involving more than 45,000 properties. For many of these properties, the amount owed is less than $1,000 and the owners may be eligible for exemptions that are available to homeowners throughout the county. The Cook County Treasurer’s Office is required to conduct two types of tax sales to sell delinquent property taxes: the annual tax sale and the scavenger sale.
Illinois REALTORS® conducted the session so that members could attain a better understanding of the process if they need to discuss it with potential clients.
In addition to explaining the tax sale process, Treasurer Pappas shared some resources available through the Treasurer’s Office. Of note, are brochures explaining the property tax system in English and 27 other languages. These brochures have been particularly valuable for residents. As an example, the Polish brochure was download over 135,000 times.
