Mazon, Illinois Delinquent Tax Sale Property


The collection of real estate taxes for properties located in Mazon Illinois is a major priority for the Grundy County Illinois Tax Collector. Real estate taxes fund local services such as public education, police protection and medical services.

Delinquent property taxes create a serious cash-flow problem for Grundy County Illinois. If Grundy County Illinois is unable to collect property taxes, they are also unable to fund important government services like police protection, public schooling, and emergency medical services.

Without the tax revenue generated from real estate located in Mazon Illinois, Grundy County Illinois would literally go bankrupt.

To solve this cash-flow problem, Grundy County Illinois allows investors to come in and pay off a portion of these delinquent property taxes.

In return, Grundy County Illinois gives investors Illinois tax lien certificates. A tax lien certificate is a document indicating ownership of a real estate tax lien. A tax lien is simply a claim for taxes.

A Illinois tax lien certificate transfers all the rights that come with being the owner of the real estate tax lien from Grundy County Illinois to the investor.

When purchasers buy tax lien certificates in Illinois, they are paying someone else's delinquent property taxes. What's more, Illinois actually gives purchasers the right to receive all of the tax money due - including fees, interest, and/or penalties.

To encourage delinquent owners to pay their past-due property taxes, the state of Illinois charges interest on the amount paid to satisfy the delinquent taxes, which is passed directly to the tax lien certificate purchaser.

The sale of tax lien certificates is a solution to a complex problem Grundy County Illinois recovers lost revenue needed to fund local services, the property owner gets more time to satisfy their delinquent property tax bill and the purchaser receives a tax lien certificate which is real estate secured and offers interest mandated by Illinois law.

For "risk-sensitive" investors Illinois tax lien certificates are an attractive alternative to traditional investments choices. With tax lien certificates, purchasers are investing their money with Grundy County Illinois and when the Grundy County Illinois Tax Collector collects the past due taxes, they send purchasers a check, returning what they paid to purchase the Illinois tax lien certificate plus applicable penalties, interest, and/or late fees.

Illinois tax lien certificates are attractive in several ways. First, the rise and fall of interest rates has no effect on Illinois tax lien certificates. Unlike the stock market, interest rates on Illinois tax lien certificates are mandated by Illinois law.

In addition, Illinois tax lien certificates are secured by real estate. So if purchasers do not receive what they paid to purchase the Illinois tax lien certificate plus interest and/or penalties within the law mandated redemption period, the purchaser acquires title to the property free and clear of all liens created prior to the sale.

So in review, there are generally two outcomes with the purchase of a tax lien certificate; the purchaser will either receive what was paid to satisfy the delinquent property taxes PLUS interest, or Grundy County Illinois has the legal right to transfer them the property - often with no mortgage!

Once they own the property they can do whatever they like; sell it, rent it for monthly cash-flow, even move in (often with no mortgage payment).

As with any investment, there is always an element of risk. Even if the tax sale process is written into Illinois law, mandated by Illinois law, and regulated by Illinois law, there is still a chance of purchasers incurring substantial loss. It is recommended that anyone considering buying a tax lien or tax foreclosure property consult properly licensed legal and accounting professionals.

Join the Mazon Illinois Delinquent Tax Sale Discussion.

Below you will find a collection of the latest user questions and comments relating to Tax Lien Certificates on tax-delinquent property located in Mazon Illinois.

Learn about Tax Lien Certificates in other counties or municipalities located in Illinois.

The following is a list of counties located in the state of Illinois. Tax Lien Certificates for properties located in the following counties are sold at Illinois county tax sales.

Learn more about each county's individual tax sale process by clicking on the name of the county for which you are interested from the list below: