IL HB1238

Requires county treasurers in counties with 3,000,000 or more inhabitants (Cook County) to establish an installment payment program by January 1, 2024, allowing delinquent property taxes from current and prior years to be paid in monthly installments

Limits eligibility to homeowners receiving or eligible for the general homestead exemption on properties with 6 or fewer residential units

Caps minimum payment requirements at one-third of total delinquent taxes due within any 12-month period

Taxpayers who successfully complete their payment plan may have interest payments waived or refunded

Properties cannot be sold at the annual tax sale if the taxpayer has entered into an installment payment agreement and remains in good standing