Have you ever wondered how much money is lost when the government does not ensure its tenants are paying real estate taxes on leased property? Have you dreamed of have having lower tax bills when government tenants pay their share of real estate taxes? In addition to the $89.7 million in unpaid real estate taxes, how about another $114.2 million in accrued interest? This article provides some insight into the issues created by leases of government-owned property (courtesy of Chicago Sun-Times).
For more information about delinquent real estate taxes and the recent 2021 scavenger sale (over $1 billion in unpaid taxes and interest) and 2019 annual sale ($175.6 million in unpaid 2019 property taxes offered for sale), click here and here.