Category: Illinois
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Winds of Change in Chicago: Is the Party Over for Investors Who Profit From Property Tax Foreclosures?
BREAKING NEWS: While the proposal is being considered, Cook County’s spring 2026 tax sale has been suspended. What’s going on with property tax seizures in Chicago? First, we know that “legalized equity theft” through foreclosure was finally held unconstitutional by the U.S. Supreme Court in 2023, in Tyler v. Hennepin County. The Court held that…
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New in 2023: Illinois Notary Law Gets a Makeover
For the first time since 1986, Illinois has dramatically revamped its notary laws. New language in Illinois law, which became effective in June 2023, has made sweeping changes to rules for notarizations. Here’s what you need to know.
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Illinois Property Taxes Are Ridiculous. A 2021 Change Helps Some Seniors, But Cook County Assessment Scandals Add to Challenges
Property taxes are a test of strength for most homeowners. For people on fixed incomes, rises in property values — and thus taxes — can be dastardly. Now, imagine people on fixed incomes who just happen to live in Illinois. Illinois ranks #2, after New Jersey, for highest property taxes in the nation, according to a…
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MyDec to be Required for All Cook County Illinois Real Estate Conveyances
Effective January 21, 2019, prior to recording, all Cook County property conveyance instruments must be accompanied by an electronically-completed Cook County Real Estate Transfer Tax Declaration, aka, a “MyDec,” which can be completed via the Illinois Department of Revenue’s MyDec Transfer Tax Portal – https://mytax.illinois.gov/mydec The requirement to use MyDec is already in effect for…
