Abstract

Assessing Value In Bidding On Tax Sale Properties
Track: Cadastral and Land Records
Authors: Charles Kofron

The perspectives of real estate investors are described in the bidding and sale of tax-default properties in St. Clair County, Illinois. Cadastral maps showing parcels with taxes due and back taxes are prepared for visual assessments. These assessments are used by investors to formulate a bid. The amount of a bid is based on a number of factors including parcel size, the presence of serviceable structures, the likelihood of tax repayment, and the location and condition of properties in proximity to a particular property of interest. The cadastral map is used as a base for considering a number of variables that enter into the decision to bid and with what dollar amount. Although companies use their own particular methods, the paper describes the general considerations that go into tax sales which all begin with the cadastral map and spatial and visual assessments.