Posted by Ann on March 28, 2000 at 02:09:51:
At the scavenger sales held every other year in Illinois for properties that are delinquent for more than one year of back taxes, you bid on the property–not the property taxes. If the owner does not redeem his property by paying the back taxes before the time period is up, then you have a good chance of acquiring the property. But you don’t have to pay the taxes if you are the high bidder and receive the “lien” on the property for the specified period. I think that the Illinois statutes explain the annual tax sales and the scavenger sales. You can find them on the Internet. Of course, at the annual tax sales, you do have to pay the back property taxes. There you are bidding down the interest and have to pay the taxes.