Column: Your Property Taxes with Cook County Treasurer Maria Pappas

Don’t Lose Your Property! What to Do if Your Taxes Were Sold at the Cook County 2022 Annual Tax Sale

By Maria Pappas

Lawndale News Chicago's Bilingual Newspaper - BusinessThe 2022 Annual Tax Sale, conducted by my office directed by Illinois law, was probably a worrisome process for property owners whose property taxes were delinquent and sold. Understanding how the process works and what steps to take can make the difference between catching up on your taxes or risking losing your property. Each year, delinquent property taxes are offered at the Annual Tax Sale so that local governments receive the revenue needed to operate. The property itself is not sold, but a third party pays the outstanding tax amount and places a tax lien on the property. The tax buyer then receives the right to repayment of the taxes, with applicable interest—or the right to go to court to request ownership of the property, if payment is not received. Tax buyers may not make changes to the taxpayer’s information or take any action regarding the property prior to obtaining a tax deed through the court. If your taxes were sold at the Annual Tax Sale, here are the next steps:

• Request an “Estimate of Redemption”: This document is obtained through the Cook County Clerk’s Office. It will provide a detailed calculation of the total amount you need to pay to redeem (pay back) the taxes for your property.

• Redeem your taxes: You have the right to regain control by paying the tax buyer the amount they paid at the Annual Tax Sale, plus applicable interest. This process, called redemption, is also handled through the Cook County Clerk’s Office.

Once a tax buyer acquires your tax debt in the Annual Tax Sale, the only way to redeem your delinquent taxes is to pay the debt, interest, and fees in a single payment. Partial payments are not accepted. That is why it is crucial to redeem your taxes as soon as possible to avoid an increase in the amount owed. Property owners have 2 ½ years to redeem sold taxes for residential properties and approximately one year to redeem sold taxes for commercial properties. After this period, the tax buyer can go to court to obtain ownership of your property. If your 2022 delinquent taxes were sold at the Annual Tax Sale in December 2024 and you are unable to redeem your taxes, consider seeking an attorney about other options available to resolve your situation. Acting quickly, understanding the process, and taking advantage of available resources will help you resolve this situation and maintain control of your property. On my office’s website, cookcountytreasurer.com, you will find more information.

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