Prevent Homeowner displacement in cook county
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The inclusion of owner-occupied homes in the Cook County annual tax sale puts people, especially seniors and those with disabilities, at risk of losing their home solely for delinquent property taxes purchased by investors motivated by profit, without regard for the long-term impact on families and communities. Black and Brown homeowners and communities are especially negatively impacted, as the current system makes it harder for households to transfer wealth, contributing to the racial wealth and homeownership gaps.
SB 74 and HB 1238, as amended, create a State Task Force to study and make recommendations for the implementation of a payment plan option to divert delinquent owner-occupied properties from the annual tax sale.
The Property Tax Payment Plan Task Force will facilitate in-depth discussions with stakeholders in the residential property tax process, including local taxing districts, county officials and administrators, taxpayer representatives, and housing advocates. The group will produce an implementation report in late 2023.
Thanks to our chief sponsors, Representative Debbie Meyers-Martin and Senator Robert Peters
2022 Annual Tax Sale Impact on Cook County
This bill follows a trend towards reducing reliance on, or eliminating, the tax sale process, including in New York, Washington DC, Detroit, and Baltimore. Reducing the number of homes subject to the tax sale is a key step in addressing decades of disinvestment and stabilizing communities.