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Illinois lawmakers want to end seizure of homes over delinquent property taxes
In 2023, the U.S. Supreme Court ruled that seizing homes over delinquent property taxes in cases where the debt owed is lower than the equity in the home is illegal. Yet, Illinois remains the only state in the country to continue the practice. Illinois lawmakers announced plans to end the practice.
SPRINGFIELD, Ill. - In 2023, the U.S. Supreme Court ruled that seizing homes over delinquent property taxes in cases where the debt owed is lower than the equity in the home is illegal.
Yet, Illinois remains the only state in the country to continue the practice.
On Wednesday, Illinois lawmakers announced plans to end the practice.
What we know:
According to Illinois State Senator John Curran (R-Downers Grove), there are more than 1,000 homeowners in Cook County who fell victim to property tax eviction with more than 100 seniors losing their homes.
He, along with other lawmakers, are vowing to protect the most vulnerable of Illinois residents to keep the state from becoming a "renters state."
What they're saying:
Curran said among a package of legislation going to the statehouse in Springfield are bills that seek to protect families from rising home insurance rates which he says are rising at 25% per year.
He also says the average age for a first-time homebuyer in Illinois is 40 and that needs to change.
To that end, another bill, SB 3959, would provide a $500 non-refundable tax credit for first-time homebuyers to encourage first-time buyers.