More than 15,000 Cook County properties were sold at the annual tax sale, recovering more than $60 million, Cook County Treasurer Maria Pappas announced Thursday.
The sale is an auction of unpaid taxes that the treasurer's office is required to conduct by state law. In this year's sale, covering tax year 2011, 51,560 property index numbers (PINs) were available for auction, 16,711 of which were purchased by tax buyers.
Homeowners have up to two years to redeem their properties by paying their bill with interest, fees and penalties. Once the redemption period expires, the buyer can begin legal action in court to obtain the title to the property.
Taxpayers can learn if their taxes were purchased and how to redeem their taxes from the Cook County Clerk's Office at www.cookcountyclerk.com, or (312) 603-5656.