Illinois HB3690 amends the Property Tax Code to adjust penalties for tax certificate redemptions and mandates digital recording of tax sales.
Illinois HB3690 modifies the Property Tax Code to change the penalty rates for redeeming tax certificates. For counties with over 3,000,000 inhabitants, the penalty is set at 0.75% per month, while for smaller counties, it is 1.25% per month. The bill also mandates that all tax sales be digitally recorded with video and audio, or an automated bidding system must be used. Additionally, it reduces the population threshold for counties to adopt a single bidder rule from 275,000 to 100,000 inhabitants. The changes apply to tax certificates sold after January 1, 2026.
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