The bills were crafted by Treasurer Maria Pappas’s office based on two studies conducted by the office last year that found the county’s system for dealing with delinquent property taxes disproportionately affects Black and Latino communities.
Aerial view of houses in Pilsen neighborhood of Chicago Oct. 15, 2020.
The small number of investors who aren’t repaid can take control of the property through the courts, but many don’t want to own those properties, so they’ll argue there was a “sale in error” in order to undo the transaction and recoup their investment, according to the treasurer’s office. These loopholes drain $40 million a year from local government coffers, often in Black and brown neighborhoods where the properties are located, according to the treasurer’s office. In a study examining sales in error between September 2015 and September 2022, the office found a total of $277.6 million, including at least $27.7 million in interest, was sent back to tax buyers.
“ is a simple fix that can ease the financial burden placed on local governments, especially those within the south suburbs that have limited unrestricted resources,” she said.also hoping to reform the property tax system
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