EDWARDSVILLE — Madison County Treasurer Chris Slusser says the county’s annual tax sale resulted in the lowest penalty rate in county history and had 300 fewer delinquent parcels than last year.
Slusser (shown) attributes the low penalty rates and fewer delinquencies on the improving economy.
“It’s always good to see fewer people struggling to make their property tax payments,” Slusser said. “This year we were collecting and distributing money at a consistently higher rate- which directly stems from an improving economy.” He also added “The lower the rate, the less it costs a taxpayer to redeem their delinquent taxes. It’s great to see the penalty rate so low this year, which benefits those whose taxes were sold.”
Each county in Illinois holds an annual tax sale to collect delinquent taxes which are distributed throughout their taxing districts. Illinois requires these sales, or auctions, so that taxing entities such as school districts, townships, municipalities, libraries, fire protection districts, etc. receive the money levied for that year.
Slusser said there were 27 tax buyers who took part in this years’ annual event, purchasing the taxes on 1843 parcels. He said of those sold parcels, 74 percent of them (1,367 parcels) were sold at a 1 percent penalty or less.
Slusser credits lower penalty rates with the automated bidding system that the county currently uses- along with the high number of participating tax buyers and improving economy. Automated sales have become the most popular method of conducting a tax sale throughout the state of Illinois. These automated systems capture bids with an accuracy that would be unreachable by any other standard.
Anyone whose taxes were sold should contact the Madison County Clerk’s office at (618) 692-6290 for more information.