Cook County has some of the highest effective property tax rates in the nation, and it’s not uncommon for homeowners to fall behind. But unpaid property taxes in Cook County don’t just disappear — they trigger a process that can eventually cost you your home.
Here’s what happens step by step, and what you can do about it.
When you miss a property tax payment in Cook County, the county begins adding penalties at 1.5% per month. This adds up fast — after 12 months, you owe an additional 18% on top of the original tax amount.
Cook County holds an annual tax sale, typically 13-14 months after the taxes were originally due. At this sale, investors purchase the delinquent taxes (not the property itself). The tax buyer pays your delinquent taxes and receives a certificate entitling them to the taxes plus penalties.
After the tax sale, you have a redemption period — typically 2 to 2.5 years for residential property — to pay back the tax buyer the amount they paid plus substantial penalties (which increase every 6 months). During this time, you still own the property, but the clock is ticking.
If you don’t redeem within the redemption period, the tax buyer can petition the court for a tax deed, which transfers ownership of the property to them. At this point, you lose the property entirely.
Every two years, Cook County also holds a scavenger sale for properties with taxes delinquent for two or more years. At scavenger sales, properties often sell for far less than the amount owed, and the redemption terms are even steeper.
If you’re behind on property taxes, you have several options. You can enter a payment plan with the Cook County Treasurer’s office to catch up on delinquent taxes over time. You can apply for exemptions you may have missed, like the Senior Citizen or Homeowner exemptions, which can significantly reduce your tax bill going forward. Or you can sell the property and use the proceeds to clear the tax debt.
If your Cook County property has delinquent taxes and you’d rather sell than fight the tax sale process, we can help. We buy properties with tax liens, pay off the delinquent taxes at closing, and put cash in your hand for any remaining equity.
Don’t wait until a tax buyer files for a tax deed. Contact us today to explore your options.
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