Tax Buying Procedures for Henry County, Illinois
1. Register with our office within 10 days of the scheduled Tax Sale.
Registration fee of $250.00 is paid at this time. This goes towards the purchase of your first $250 in taxes. This is non-refundable if you do attend the sale. You can also purchase the list of delinquent taxes for $100; this is emailed only and is updated frequently up until the day of the sale. Click Here for form, which can be filled out and mailed to our office at 307 W Center St, Cambridge, IL 61238,
2. The Day of Sale
A. You must be present to bid. Henry County utilizes either the R.A.M.S or R.A.M.S 2 sale. R.A.M.S bidding is done electronically and on a key pad. The keypad represents the interest rate you want to pay for those taxes. R.A.M.S. 2 is done by presenting your bids on a flashdrive and those are then uploaded. Each process awards the lowest interest rate the taxes. If using R.A.M.S 2 and there is more than one bid at the lowest, the system randomly chooses which buyer. Any questions regarding the sale, please contact our office.
B. You must pay for all taxes and fees you purchased before leaving the building after the sale.
3. After the Sale
A. The County Clerk’s office handles all delinquent taxes once the sale is complete. They will enter all information regarding who purchased taxes and at what interest rate. They will send you your tax certificates in the mail.
Interest is calculated the day of the sale and the amount is good for 6 months. After 6 months and 1 day, interest is calculated again.
B. If you purchased a prior year of taxes on a property, you have the opportunity to purchase the following years taxes (subsequent tax) first. These can be purchased after the second installment of taxes has become due and we have completed entering payments. The interest is automatically calculated at 12%.
It is your responsibility once you have purchased taxes to insure your purchase stays legal.
YOU MUST CONSULT AN ATTORNEY FOR ALL LEGAL MATTERS AND QUESTIONS.