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92_HB4045
LRB9209566SMdvB
1 AN ACT in relation to taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5 Section 21-355 as follows:
6 (35 ILCS 200/21-355)
7 Sec. 21-355. Amount of redemption. Any person desiring
8 to redeem shall deposit an amount specified in this Section
9 with the county clerk of the county in which the property is
10 situated, in legal money of the United States, or by
11 cashier's check, certified check, post office money order or
12 money order issued by a financial institution insured by an
13 agency or instrumentality of the United States, payable to
14 the county clerk of the proper county. The deposit shall be
15 deemed timely only if actually received in person at the
16 county clerk's office prior to the close of business as
17 defined in Section 3-2007 of the Counties Code on or before
18 the expiration of the period of redemption or by United
19 States mail with a post office cancellation mark dated not
20 less than one day prior to the expiration of the period of
21 redemption. The deposit shall be in an amount equal to the
22 total of the following:
23 (a) the certificate amount, which shall include all
24 tax principal, special assessments, interest and
25 penalties paid by the tax purchaser together with costs
26 and fees of sale and fees paid under Sections 21-295 and
27 21-315 through 21-335;
28 (b) the accrued penalty, computed through the date
29 of redemption as a percentage of the certificate amount,
30 as follows:
31 (1) if the redemption occurs on or before the
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1 expiration of 6 months from the date of sale, the
2 certificate amount times the penalty bid at sale;
3 (2) if the redemption occurs after 6 months
4 from the date of sale, and on or before the
5 expiration of 12 months from the date of sale, the
6 certificate amount times 2 times the penalty bid at
7 sale;
8 (3) if the redemption occurs after 12 months
9 from the date of sale and on or before the
10 expiration of 18 months from the date of sale, the
11 certificate amount times 3 times the penalty bid at
12 sale;
13 (4) if the redemption occurs after 18 months
14 from the date of sale and on or before the
15 expiration of 24 months from the date of sale, the
16 certificate amount times 4 times the penalty bid at
17 sale;
18 (5) if the redemption occurs after 24 months
19 from the date of sale and on or before the
20 expiration of 30 months from the date of sale, the
21 certificate amount times 5 times the penalty bid at
22 sale;
23 (6) if the redemption occurs after 30 months
24 from the date of sale and on or before the
25 expiration of 36 months from the date of sale, the
26 certificate amount times 6 times the penalty bid at
27 sale.
28 In the event that the property to be redeemed
29 has been purchased under Section 21-405, the penalty
30 bid shall be 12% per penalty period as set forth in
31 subparagraphs (1) through (6) of this subsection
32 (b). The changes to this subdivision (b)(6) made by
33 this amendatory Act of the 91st General Assembly are
34 not a new enactment, but declaratory of existing
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1 law.
2 (c) The total of all taxes, special assessments,
3 accrued interest on those taxes and special assessments
4 and costs charged in connection with the payment of those
5 taxes or special assessments, which have been paid by the
6 tax certificate holder on or after the date those taxes
7 or special assessments became delinquent together with
8 12% penalty on each amount so paid for each year or
9 portion thereof intervening between the date of that
10 payment and the date of redemption. In counties with less
11 than 3,000,000 inhabitants, however, a tax certificate
12 holder may not pay all or part of an installment of a
13 subsequent tax or special assessment for any year, nor
14 shall any tender of such a payment be accepted, until
15 after the second or final installment of the subsequent
16 tax or special assessment has become delinquent or until
17 after the holder of the certificate of purchase has filed
18 a petition for a tax deed under Section 22.30. The
19 person redeeming shall also pay the amount of interest
20 charged on the subsequent tax or special assessment and
21 paid as a penalty by the tax certificate holder. This
22 amendatory Act of 1995 applies to tax years beginning
23 with the 1995 taxes, payable in 1996, and thereafter.
24 (d) Any amount paid to redeem a forfeiture
25 occurring subsequent to the tax sale together with 12%
26 penalty thereon for each year or portion thereof
27 intervening between the date of the forfeiture redemption
28 and the date of redemption from the sale.
29 (e) Any amount paid by the certificate holder for
30 redemption of a subsequently occurring tax sale.
31 (f) All fees paid to the county clerk under Section
32 22-5.
33 (g) All fees paid to the registrar of titles
34 incident to registering the tax certificate in compliance
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1 with the Registered Titles (Torrens) Act.
2 (h) All fees paid to the circuit clerk and the
3 sheriff or coroner in connection with the filing of the
4 petition for tax deed and service of notices under
5 Sections 22-15 through 22-30 and 22-40 in addition to (1)
6 a fee of $100 $35 if a petition for tax deed has been
7 filed, which fee shall be posted to the tax judgement,
8 sale, redemption, and forfeiture record, to be paid to
9 the purchaser or his or her assignee; (2) a fee of $10 $4
10 if a notice under Section 22-5 has been filed, which fee
11 shall be posted to the tax judgment, sale, redemption,
12 and forfeiture record, to be paid to the purchaser or his
13 or her assignee; and (3) all costs paid to record a lis
14 pendens notice in connection with filing a petition under
15 this Code. The fees in (1) and (2) of this paragraph (h)
16 shall be exempt from the posting requirements of Section
17 21-360.
18 (i) All fees paid for publication of notice of the
19 tax sale in accordance with Section 22-20.
20 (j) All sums paid to any city, village or
21 incorporated town for reimbursement under Section 22-35.
22 (k) All costs and expenses of receivership under
23 Section 21-410, to the extent that these costs and
24 expenses exceed any income from the property in question,
25 if the costs and expenditures have been approved by the
26 court appointing the receiver and a certified copy of the
27 order or approval is filed and posted by the certificate
28 holder with the county clerk. Only actual costs expended
29 may be posted on the tax judgment, sale, redemption and
30 forfeiture record.
31 (l) Up to $125 paid for costs of title insurance
32 and to identify and locate owners and interested parties
33 to the subject real estate.
34 (Source: P.A. 91-924, eff. 1-1-01.)
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1 Section 99. Effective date. This Act takes effect on
2 January 1, 2003.