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A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
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“The brightest people in real estate will say if you really account for maintenance and upkeep, then real estate has not outperformed other asset classes,” New York University professor and ...
In the absence of urban planning policies, property tax on real estate changes the incentives for developing land, which in turn affects land use patterns. One of the main concerns is whether or not it encourages urban sprawl. The market value of undeveloped real estate reflects a property's current use as well as its development potential. As ...
Scott R. Britton is an elected American local government official in Cook County, Illinois.. He is currently a member of the Cook County Board of Commissioners representing the 14th District of Cook County which includes Arlington Heights, Barrington, Glencoe, Glenview, Inverness, Kenilworth, Northbrook, Northfield, Palatine, Prospect Heights, Rolling Meadows, Wheeling, Wilmette and Winnetka ...
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In some jurisdictions, the assessed value is meant to equal the market value of a property. In other areas, the market value is multiplied by an assessment ratio to arrive at the assessed value. Once a tax assessor determines the assessed value, it is multiplied by a tax rate, called a "mill rate," to arrive at the amount of the property tax. [1]