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Illinois Tax Lien Certificate Sales - (IL)
Written by: Kevin Zimmerman
The state of Illinois is considered to be an excellent state for tax lien certificate sales. Its high interest of interest and relatively short redemption period is plenty of incentive for investors.
An Overview of Illinois Tax Sales
The interest rate for Illinois tax certificate sales is 36% per year and 24% per year on farm land. The redemption period for Illinois tax lien certificate sales is 2 years. Most counties in Illinois hold their tax lien certificate sales in November.
Illinois also holds tax deed sales which are also known as scavenger sales. However, they are not common and are conducted in odd numbered years when enough properties are available.
Illinois Tax Sales Bidding Process
All tax lien certificate sales auctions held in Illinois are held via a competitive bidding process. In most cases, you are register at least 10 days in advance to participate in these auctions.
Illinois ranks right at the top for tax lien certificate sales and in the more populated counties, you will find that the competition is fierce.