PROP TX-TAX SALE

The bill allows counties in Illinois to acquire or sell properties that have unpaid taxes. It also gives property owners the right to recover any lost equity if their property is sold at a tax auction. Additionally, in large counties, property owners will have three years to redeem their properties after a sale.

Supporters of the bill argue that it provides necessary protections for property owners by allowing them to recover lost equity and extending the redemption period. This measure is seen as a way to help residents keep their homes and ensure fair treatment in tax delinquency situations.

Critics of the bill may contend that it could complicate the tax sale process and create potential delays in county revenue collection. They may also argue that extending the redemption period could lead to uncertainty for future property buyers and hinder the resolution of tax delinquencies.