Public Act 123 of 1999 now SHORTENS the amount of time property owners have to pay their delinquent taxes before LOSING their property. property owners with taxes that are two (2) years delinquent will be foreclosed and the property will be sold at public auction.
The amount of time to pay delinquent taxes has now been reduced from approximately five (5) years to approximately two (2) years. Property owners who have multiple tax years owing may have to pay more than one year of delinquent taxes to avoid losing their property.
Property owners face higher interest and fees for not paying their taxes. Taxes that are more than one (1) year old will have a substantially higher interst rate (1.5% per month as opposed to the current 1%). After two years, taxes will also have a $175 forfeiture fee and additional administrative fees added to them.
PAY YOUR DELINQUENT TAXES NOW!
FORECLOSURE IS FINAL!