Despite the steady—albeit slow—economic recovery of the last decade, many municipalities in Illinois continue dealing with the effects the recession had on everything from real estate prices to unemployment. Many locals have seen revenues drop dramatically, while items such as pensions and employee health care prices skyrocket.
Large property tax delinquencies in any given municipality often contribute to shortfalls in the municipal budgets. Municipalities acquire tax lien certificates of purchase through a no-cash bid statutory system which allows the municipality to remove the tax delinquency from its tax rolls and also take title to the property through a tax deed.
The resulting economic strain has led municipalities to participate in the no-cash bid tax lien purchasing system. Salyer Law Offices manages municipal tax lien certificate portfolios and processes the certificates of purchase to tax deed.