What does the county do with property it acquires through foreclosure?
Since the property tax system is for the benefit of all taxing districts, the property the county acquires through foreclosure is held in trust on behalf of all taxing districts that levied taxes against that property. The county therefore has an obligation to sell the property and distribute the proceeds to those taxing districts. This also puts the property back on the tax rolls since it is exempt from property taxes while in county ownership.
