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The Shopper 03/04/2026

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Lawmakers postpone Cook County property tax debt sale to continue working on reforms By JENNA SCHWEIKERT Capitol News Illinois jschweikert@capitolnewsillinois.com Nearly three years after a U.S. Supreme Court ruling on selling property tax debt, Illinois legislators continue to delay reforms to bring the state into compliance with the decision. Lawmakers voted to pass House Bill 598 on Thursday, which would delay the annual Cook County property tax debt sale from March 10 to Dec. 1, 2026, and pause accruing interest on the debt. However, the delay leaves county treasurers open to a growing number of lawsuits that could put them on the hook for millions of dollars in damages. State law assigns different annual sale dates in Cook County to the rest of the state, so the county and lawmakers needed to delay this particular sale to address the larger issue. “The Senate has already voted on provisions of this bill several times,” Sen. Celina Villanueva, D-Chicago, the bill’s lead Senate sponsor, said on the Senate floor Thursday. “We’re just trying to get it home in order to give us some more time to try to address the larger issue that was determined during the Tyler v. Hennepin (County) decision and to try to do it right and make sure that we’re keeping people in their homes,” Villaneuva added. Gov. JB Pritzker signed the bill Friday afternoon to take effect immediately. Tyler v. Hennepin County In the 2023 Tyler v. Hennepin County decision, the Supreme Court unanimously ruled that local and state governments cannot seize and sell the homes of people with unpaid property tax debt without returning the value left after the debt is settled. Every state but Illinois has corrected their state law in accordance with the ruling. To comply with the ruling, the state must require that homeowners receive the leftover funds from a sale after their debt has been settled. Before the Tyler decision, county treasurers could hold annual sales of unpaid property tax debt to private investors. If the homeowners fell behind on paying back their debt, the investors could then seize and sell the property, pocketing the difference with no refund to the homeowner. As a result of the seizure, homeowners would lose the entire value of their home, which is often much

more than the size of their debt. The tax sales help local governments continue to fund their everyday operations, but critics say it also leaves homeowners vulnerable to predatory tax buyers. Some groups would take advantage of a loophole in the law called sale-in-error that allowed them to receive a refund on a sale if there was an error in the sale documents, like miscalculated square footage. That loophole has since been closed after a report from Cook County Treasurer Maria Pappas, but the state still needs to enact further reforms to the sale process to comply with the Tyler ruling.

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CNI file: State Sen. Celina Villanueva, D-Chicago, on the House floor in May 2025. (Capitol News Illinois file photo) –––––––––––––––––––––––

“This isn’t a new issue, we’ve been working on it for years,” Villanueva said in a statement. “We cannot continue to let this issue fall by the wayside while families — especially seniors and workingclass homeowners — remain at risk of losing not just their homes, but the equity they worked their entire lives to build.” Legislators have introduced some reform bills, like House Bill 3146 and Villanueva’s Senate Bill 3940, but face resistance from the groups who buy tax debts. Neither bill has passed out of committee, signaling that the legislation is still a way off from becoming law. Capitol News Illinois is a nonprofit, nonpartisan news service that distributes state government coverage to hundreds of news outlets statewide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.

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Real Estate Questions & Answers CATHY & JIM HIGGINS Question. We received a full price offer on our home the 2nd day we had it listed. We now think we may have listed it too low. Your thoughts? Answer. Versions of this column have appeared before. It is still true. And for many, still relevant. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away. The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer, and who then waited a l ong time before finally accepting something else at a considerably lower price. The Sellers first thought is almost inevitable. “Did we list it too low?” “If someone will offer this much so soon, maybe we should wait a while and see if we can get more.” As an antidote to the ill effects of the “curse of the first offer”, this observation might be kept in mind. The fact that an offer is received early in the listing period -- even in the first few days -- doesn’t mean that the property has been listed too low. Today, a good buyer’s agent will have electronically entered a “profile” of his client’s needs and price

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range into the system. Then, whenever he logs on to the MLS, he will be notified if a listing has been entered that matches that profile. We all know that there is typically a bit of a dance in the pricing and negotiating for a property. Sellers, with the concurrence of their agents, will usually list their property for an amount that is both higher than what they believe its value to be and higher than what they would be satisfied to receive. Why? Because they know that buyers almost always want and expect to pay less than the listed price The final point is that potential buyers learn quickly of the existence of an appropriate new listing. Thus, a flurry of activity at the outset of the listing does not necessarily imply a too-low price; rather, it reflects the efficiency of the system. Don’t be greedy, take your good offer and run to the bank with the profits. E-mail us your Real estate questions at: Cathyah@ aol.com. Thinking of Selling? Call Cathy & Jim Higgins: Ind: 219-577-5905 Ill: 708-828-3304. Licensed Broker/Realtors in Indiana & Illinois. McColly Real Estate. Website: www.Cathyhiggins. com. Personal Real estate Journal: www. Higginshousechat.blogspot.com

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The Shopper 03/04/2026 by The Shopper - Issuu