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The Law Q&A | A potential wrench thrown into collection of property taxes

SCOTUS Ruling Property Taxes

The Law Q&A | A potential wrench thrown into collection of property taxes

SCOTUS found such tax sale system unconstitutional under the taking clause of the 5th Amendment, which prohibits government from taking properties ...

In a breaking development, a federal trial judge in Chicago has made a ruling in a lawsuit that may end up up-ending how Illinois counties deal with real-estate tax defaults by property owners.

What is the Illinois law on real-estate tax defaults, and how has the recent ruling thrown sand into the gears of property-tax collection?

Counties bill real-estate owners an annual tax for their real estate in that county that isn’t tax-exempt. The bill is based on 1/3 the value of the real estate to which tax multipliers are applied. The tax amounts end up being a small percent of the total fair market value of the real estate.

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Source : The News-Gazette

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