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Public Act 096-1067
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| HB5158 Enrolled | LRB096 16487 HLH 31757 b |
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Property Tax Code is amended by changing |
Section 21-355 as follows:
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(35 ILCS 200/21-355)
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Sec. 21-355. Amount of redemption. Any person desiring to |
redeem shall
deposit an amount specified in this Section with |
the county clerk of the
county in which the property is |
situated,
in legal money of the United States, or by cashier's |
check, certified check,
post office money order or money order |
issued by a financial institution
insured by an agency or |
instrumentality of the United States, payable to the
county |
clerk of the proper county. The deposit shall be deemed timely |
only
if actually received in person at the county clerk's |
office prior to the close
of business as defined in Section |
3-2007 of the Counties Code on or before the
expiration of the |
period of redemption or by United
States mail with a post |
office cancellation mark dated not less than one day
prior to |
the expiration of the period of redemption. The deposit shall
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be
in an amount equal to the total of the
following:
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(a) the certificate amount, which shall include all tax |
principal,
special assessments, interest and penalties |
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paid by the tax purchaser together
with costs and fees of |
sale and fees paid under Sections 21-295 and 21-315
through |
21-335;
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(b) the accrued penalty, computed through the date of |
redemption as a
percentage of the certificate amount, as |
follows:
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(1) if the redemption occurs on or before the |
expiration of 6 months
from the date of sale, the |
certificate amount times the penalty bid at sale;
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(2) if the redemption occurs after 6 months from |
the date of sale,
and on or before the expiration of 12 |
months from the date of sale, the
certificate amount |
times 2 times the penalty bid at sale;
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(3) if the redemption occurs after 12 months from |
the date of sale
and on or before the expiration of 18 |
months from the date of sale, the
certificate amount |
times 3 times the penalty bid at sale;
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(4) if the redemption occurs after 18 months from |
the date
of sale and on or before the expiration of 24 |
months from the date of sale,
the certificate amount |
times 4 times the penalty bid at sale;
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(5) if the redemption occurs after 24 months from |
the date of sale
and on or before the expiration of 30 |
months from the date of sale, the
certificate amount |
times 5 times the penalty bid at sale;
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(6) if the redemption occurs after 30 months from |
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the date of sale
and on or before the expiration of 36 |
months from the date of sale, the
certificate amount |
times 6 times the penalty bid at sale.
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In the event that the property to be redeemed has |
been purchased
under Section 21-405, the penalty bid |
shall be 12% per penalty
period as set forth in |
subparagraphs (1) through (6) of this subsection (b).
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The changes to this subdivision (b)(6) made by this |
amendatory Act of the
91st General Assembly are not a |
new enactment, but declaratory of existing
law.
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(c) The total of all taxes, special assessments, |
accrued interest on those
taxes and special assessments and |
costs charged in connection with the payment
of those taxes |
or special assessments, which have been paid by the tax
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certificate holder on or after the date those taxes or |
special assessments
became delinquent together with 12% |
penalty on each amount so paid for each
year or portion |
thereof intervening between the date of that payment and |
the
date of redemption.
In counties with less than |
3,000,000 inhabitants, however, a tax certificate
holder |
may not pay
all or part of an installment of a subsequent |
tax or special assessment for any
year, nor shall any
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tender of such a payment be accepted, until after the |
second or final
installment
of the subsequent tax or |
special assessment has become delinquent
or until after the
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holder of the certificate of purchase has filed a petition |
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for a tax deed under
Section 22.30.
The person
redeeming |
shall also pay the amount of interest charged on the |
subsequent tax
or special assessment and paid as a penalty |
by the tax certificate holder.
This amendatory Act of
1995 |
applies to tax years beginning with the 1995 taxes, payable |
in 1996, and
thereafter.
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(d) Any amount paid to redeem a forfeiture occurring |
subsequent to the
tax sale together with 12% penalty |
thereon for each year or portion thereof
intervening |
between the date of the forfeiture redemption and the date |
of
redemption from the sale.
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(e) Any amount paid by the certificate holder for |
redemption of a
subsequently occurring tax sale.
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(f) All fees paid to the county clerk under Section |
22-5.
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(g) All fees paid to the registrar of titles incident |
to registering
the tax certificate in compliance with the |
Registered Titles (Torrens) Act.
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(h) All fees paid to the circuit clerk and the sheriff, |
a licensed or registered private detective, or the
coroner |
in connection with the filing of the petition for tax deed |
and
service of notices under Sections 22-15 through 22-30 |
and 22-40 in addition to
(1) a fee of $35 if a petition for |
tax deed has been filed, which fee shall
be posted to the |
tax judgement, sale, redemption, and forfeiture record, to |
be
paid to the purchaser or his or her assignee; (2) a fee |
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of $4 if a notice under
Section 22-5 has been filed, which |
fee shall be posted
to the tax judgment, sale, redemption, |
and forfeiture record, to be paid to
the purchaser or his |
or her assignee; (3) all costs paid to record a
lis pendens |
notice in connection with filing a petition under this |
Code; and (4) if a petition for tax deed has been filed, |
all fees up to $150 per redemption paid to a registered or |
licensed title insurance company or title insurance agent |
for a title search to identify all owners, parties |
interested, and occupants of the property, to be paid to |
the purchaser or his or her assignee.
The fees in (1) and |
(2) of this paragraph (h) shall be exempt from the posting
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requirements of Section 21-360. The costs incurred in |
causing notices to be served by a licensed or registered |
private detective under Section 22-15, may not exceed the |
amount that the sheriff would be authorized by law to |
charge if those notices had been served by the sheriff.
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(i) All fees paid for publication of notice of the tax |
sale in
accordance with Section 22-20.
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(j) All sums paid to any city, village or incorporated |
town for
reimbursement under Section 22-35.
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(k) All costs and expenses of receivership under |
Section 21-410, to the
extent that these costs and expenses |
exceed any income from the property in
question, if the |
costs and expenditures have been approved by the court
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appointing the receiver and a certified copy of the order |