The board of county commissioners of Kane County has determined the following method of sale best meets the objectives of protecting the financial interests of the delinquent property owners and collecting delinquent property taxes due:
The parcel will be sold to the bidder with the highest bid amount for the entire parcel of property. However, a bid may not be accepted for an amount which is insufficient to pay the taxes, penalties, interest and administrative costs. Any amount received in excess of the taxes due to all local governments and any administrative costs by the county shall be treated in accordance with section 1-8-3, "Excess Payment", of this chapter. (Ord. O-2016-6, 8-8-2016)