35 ILCS 200/21-15
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 7 - Tax Collection

Sec. 21-15. General tax due dates; default by mortgage lender. Except as otherwise provided in this Section or Section 21-40, all property  upon which the first installment of taxes remains unpaid on the later of (i) June 1 or (ii) the day after the date specified on the real estate tax bill as the first installment due date annually  shall be deemed delinquent and shall bear interest after that date at the rate of  1 1/2% per month or portion thereof.  Except as otherwise provided in this  Section or Section 21-40, all property upon which the second installment of  taxes remains due and unpaid on the later of (i) September 1 or (ii) the day after the date specified on the real estate tax bill as the second installment due date, annually, shall be deemed  delinquent and shall bear interest after that date at the same interest rate.  Notwithstanding any other provision of law, if a taxpayer owes an arrearage of taxes due to an administrative error, and if the county collector sends a separate bill for that arrearage as provided in Section 14-41, then any part of the arrearage of taxes that remains unpaid on the day after the due date specified on that tax bill  shall be deemed delinquent and shall bear interest after that date at the rate of  1 1/2% per month or portion thereof. All interest collected shall be paid into the general fund of the county.  Payment received by mail and postmarked on or before the required due date is  not delinquent.Property not subject to the interest charge in Section 9-260 or Section  9-265 shall also not  be subject to the interest charge imposed by this Section until such time as  the owner of the property receives actual notice of and is billed for the  principal amount of back taxes due and owing.If an Illinois resident who is a member of the Illinois National Guard  or a reserve component of the armed forces of the United States  and who has  an ownership interest in property taxed under this Act is called to active duty  for deployment outside the continental United States  and  is on active duty on the due date of any installment of taxes due under  this Act, he or she shall not be deemed delinquent in the payment of the  installment and no interest shall accrue or be charged as a penalty on the  installment until 180 days after that member returns from active duty. To be deemed not delinquent in the payment of an installment of taxes and any  interest  on that installment, the reservist or guardsperson must make a reasonable effort to notify the county clerk and the county collector of his or her activation to active duty and must notify the county clerk and the county collector  within 180  days after his or her deactivation and provide verification of the date of his  or her  deactivation. An installment of property taxes on the property of any reservist  or  guardsperson who fails to provide timely notice and verification of  deactivation to the  county clerk is subject to interest and penalties as delinquent taxes under  this Code from  the date of deactivation.Notwithstanding any other provision of law, when any unpaid taxes become  delinquent under this Section through the fault of the mortgage lender,  (i) the  interest assessed under this Section for delinquent taxes shall be charged  against the mortgage lender and not the mortgagor and (ii) the mortgage  lender shall pay the taxes, redeem the property and take all necessary steps to  remove any liens accruing against the property because of the delinquency.  In the event that more than  one entity meets the definition of mortgage lender with respect to any  mortgage, the interest shall be assessed against the mortgage lender  responsible for servicing the mortgage.  Unpaid taxes shall be deemed  delinquent through the fault of the mortgage lender only if: (a) the  mortgage  lender has received all payments due the mortgage lender for the property being  taxed under the written terms of the mortgage or promissory note secured by  the mortgage, (b) the mortgage lender holds funds in escrow to pay the taxes,  and (c) the funds are sufficient to pay the taxes  after deducting all amounts reasonably anticipated to become due for all hazard  insurance premiums and mortgage insurance premiums and any other assessments to  be paid from the escrow under the terms of the mortgage. For purposes of this  Section, an  amount  is reasonably anticipated to become due if it is payable within 12 months from  the time of determining the sufficiency of funds held in escrow.  Unpaid taxes  shall not be deemed delinquent through the fault of the mortgage lender if the  mortgage lender was directed in writing by the mortgagor not to pay the  property taxes, or  if the failure to pay the taxes when due resulted from inadequate or inaccurate  parcel information provided by the mortgagor, a title or abstract company, or  by the agency or unit of government assessing the tax.  (Source: P.A. 97-944, eff. 8-10-12; 98-286, eff. 1-1-14.)