Seizing Financial Growth in Henry County: 54% Returns in Three Years!

Henry County, Illinois, offers an exciting opportunity for real estate investors looking for secure, high-return options through its annual tax lien sales. Investors can earn up to 54% return in just three years, making it one of the most attractive counties for tax lien investing.

How Tax Lien Sales Work in Henry County

When property owners in Henry County fail to pay their property taxes, a tax lien is placed on their property. These liens are then auctioned off to investors. The buyer of the lien pays the unpaid taxes on behalf of the property owner and, in return, earns interest and penalties as the property owner works to redeem the property.

In Henry County, the interest rate on tax liens starts at 18% annually, and interest continues to accrue every six months until the property owner redeems the lien or the redemption period expires. The redemption period is 30 months for most properties (24 months for commercial or vacant properties), and after that period, the tax lien holder can apply for a tax deed, which may transfer the property ownership.

Key Details:

Detail	Information
Tax Sale Type	Tax Lien Certificates
Typical Date of Sale	Annually
Redemption Period	30 months (or 24 months for commercial/vacant properties)
Interest Rate	Up to 18% annually, recalculated every 6 months
Bid Procedure	Bid Down Method, starting at a maximum of 9%
Registration Fee	$250, goes towards the purchase of your first $250 in taxes
Deposit	$250 non-refundable if you do not attend the sale
Sale Contact	Henry County Treasurer
Auction Site	Henry County Government Center, 307 W Center Street, Cambridge, IL 61238
County Website	Henry County Official Website

Steps to Participate:

1. Register with the County Treasurer: Register at least 10 days before the sale date and pay the $250 fee. You must also sign an affidavit complying with the Single Bidder Rule Ordinance.
2. Auction Day: Be present to bid. Henry County uses electronic bidding (R.A.M.S or R.A.M.S 2 systems). Pay for all taxes and fees before leaving the building after the sale.
3. Post-Sale: The County Clerk’s office will send tax certificates to successful buyers. If a tax buyer has purchased prior year taxes on a property, they have the first opportunity to purchase subsequent years’ taxes.

Interesting Facts About Henry County:

Henry County, Illinois, located near the Mississippi River, is known for its agriculture, producing hogs, corn, soybeans, and cattle. The county features rolling farmland, wooded areas, rivers, lakes, and streams. Manufacturing and business sectors also contribute to the local economy. The county is well-connected with highways and rail lines and boasts historical sites like the Bishop Hill Colony and the Hennepin Canal. Established in 1825, the county covers 823.21 square miles and had a population of 51,020 in 2000​.

Frequently Asked Questions

Q: What happens if the property owner does not redeem the lien? A: If the property owner does not redeem the lien within the 30-month redemption period, the investor can petition the Circuit Court for a tax deed to take ownership of the property​.

Q: How does the tax lien interest get calculated?

A: The county calculates interest on the day of the sale and holds it for six months. They recalculate the interest every six months until the owner redeems the lien or it expires.

Q: What is the Single Bidder Rule Ordinance? A: The Single Bidder Rule Ordinance ensures that no single entity can monopolize the bidding process by requiring an affidavit from each bidder confirming compliance with this rule​.

Useful Links:

• Annual Tax Sale Information
• Henry County Treasurer
• Henry County Official Website
• Auction Site
• How to Profit from Illinois’s Tax Lien Sales
• Learn How Does Tax Lien Investing Work
• Want to get started with Tax Liens? Click Here!
• Is Illinois the best place to profit from tax lien certificates?

Need a Hand?

If you need guidance with tax lien investing, feel free to reach out! We offer assistance and resources to help you navigate the process. Book a call now for personalized guidance. You can also access our free resources here. Happy investing!

Sign up or log in to view the full content.