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.
although i am a investor? in OH. this question if for ILL. investor if i buy a property in illinois at a s.s. am i responable for any back property taxes owe on the property. thanks to you will, cook,& dupage investors
Re: SHERIFF SALE PROPERTY TAXES - Posted by Tim Jensen
Posted by Tim Jensen on March 28, 2000 at 06:21:03:
Donald,
In IL, you will have to pay the back taxes plus any interest. If you have a property address, call the county treasurer and ask them how much is owed. Also, make sure that the right of redemption (usually 2.5 years)has not expired.
Yes, as a general rule in mortgage foreclosures, tax liens survive the sheriff sale and continue to accrue interest, title is passed “subject to” senior liens.