State Summary

• Tax Collection Method: Liens
• Tax Collection Entity: Treasurer
• Property/Tax Records Administrator: Township Assessors work in conjunction with the County Assessment Office
• Taxes Due: Property taxes are due in two installments. For most Illinois counties, the due dates are the first business day in June and the first business date in September. For larger Illinois counties, like Cook County, the first due date is the first business day in March and the second due date varies from year to year
• Taxes Delinquent: Tax bills are considered delinquent one business day after the due date
• Tax Sale Date/Period: For most Illinois counties, the sales take place in late October or November. Larger Illinois counties, like Cook County, hold "Scavenger Sales" in odd-numbered years
• Tax Sale Registration Requirements: Most Illinois counties require pre-registration no later than 10 days before the sale date. Bidders must complete a Bidder Registration Form and include a deposit with their registration. The deposit amount can be as high as $500 and is applied toward any purchases made at the sale. Any or all of the deposit is refundable if the bidder's purchases are below this amount after the sale. The bidder must attend the sale to be eligible for any refund
• Tax Sale Administrator: County Clerk
• Primary Bidding Type: Bid-down Interest with bid-down increments of 0.25%, 0.5%, or 1% depending on the county
• Redemption Period: 30 months for owner-occupied residences; 24 months for unoccupied residences or vacant land; 36 months for residential property with six or more units; 6 months for vacant land at a scavenger sale
• Redemption Interest Rate/Flat Penalty: 18% (maximum) flat penalty;  additional flat penalties are assessed and added to the delinquent tax bill each six-month period that elapses during the redemption period
• Over-the-Counter Sale Opportunities: Some Illinois counties offer "over-the-counter" tax lien certificates. These tax lien certificates are also called "Forfeited Lands". The penalty rate for over-the-counter liens is initially set at 12%. Foreclosed tax deeds are also offered over the counter (through a third party) in 81 of Illinois' 102 counties.

Illinois is a flat penalty tax lien state, which can be very beneficial to tax lien investors. This flat penalty is assessed on the base tax lien amount every six months, so an investor's return can add up very quickly. Consider a 18% tax lien on a owner-occupied residential property, which has a redemption period of 30 months. If this property is redeemed just prior to the end of the redemption period, the tax lien investor would earn a return of 90 percent (18% x 5 (six-month periods))!

The larger Illinois counties hold Scavenger Sales in the late Fall or early Winter months in odd-numbered years. Properties in Scavenger Sales have generally been offered for sale at two or more annual tax lien sales. 

A third party offers foreclosed tax deeds over the counter for 81 of Illinois' 102 counties. These tax deed auctions are often called "Surplus" or "Trustee" auctions and they are either done by sealed bid or a premium bidding public outcry auction.

Illinois County Reference