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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