Cob: Tax Sale Info

Tue Jan 4 07:38:34 CST 2000

Happy New Year to all,

Posting info on Tax Sales is offensive to some and if that is the case,
delete now because this post is full of good solid information on the
process and where to go to get information at no cost. If you have a little
time to plan, this could be the way for you to obtain property at very low
cost.  City property sells for more than mountain or rural property so you
pay accordingly.

                                                    Real Property Tax & Lien
Sales
The New Year has begun and so has your opportunity to buy land and build
your dream home. Tax Delinquent properties go on the auction block starting
this month in many states. Due to the large number of inquiries I have had
regarding Tax Lien Properties, I compiled a reference list that covers most
states. The following is offered as a guide to assist you in locating
contacts for Tax Defaulted Property. Some of the bookmarks are dated,
however use them to contact the agency that conducted the sale.  Tax Deed
and Certificate Sales are conducted in many forms and may include seal bids,
auction with oral bidding or sold on a first come basis directly from the
treasurer.
Most people are unaware that property can be purchased for the cost of
delinquent taxes after the county or state has taken possession. The
redemption period ranges from issuance of a Tax Deed within a few weeks to
as long as 7 years and is determined by the administrative statute of the
individual states. Acquisition cost will vary depending on location and size
of the parcel.  In New Mexico I have purchased ½ acre lots for as little as
$10.00 and received a Tax Deed.

Properties offered for sale may be distressed property with little or no
value to property with homes that the owner has refused to pay the taxes on
for whatever reason. In all cases, the successful buyer must take the
property "as-is" together with liens and other conditions, therefore it is
important to do your homework and ensure that the property is as good a deal
as it appears to be.

Ownership of the property may also take many forms. There are currently 31
states that offer you the opportunity to invest in what are known as "Tax
Lien Certificates".   A Tax Lien Certificate is evidence of a lien on
someone's property. The purchaser of a tax certificate at a public sale of
such certificates is purchasing the lien of the county or other taxing
jurisdiction. The purchaser of a tax certificate hopes to receive a high
yield on his money when the certificate is redeemed. In the event the owner
of the property does not redeem the holder of the tax certificate is
entitled to go through whatever legal procedure is established by statute to
receive a deed to the property. Interest rates of return vary from 14% to
60% depending on the state statute.

In states having tax certificate sales, those sales are usually held on the
same date each year. States That sell Tax Lien Certificates are Alabama ,
Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa,
Kentucky, Louisiana, Maryland, Massachusetts, Michigan Mississippi,
Missouri, Montana, New Hampshire, New Jersey, North Carolina, North Dakota,
Oklahoma, Rhode Island, South Carolina, South Dakota, Vermont, West
Virginia, Wyoming, US Virgin Islands and Puerto Rico.  In most states you
can invest in tax lien certificates at any time you want because they are
assignable. All you need to do is ask the tax collector for a list of tax
lien certificates held by the county which are assignable. A tax lien is
superior to all other liens. Interest rates and penalty vary from state to
state but the yields can b e astronomical. In states where a "tax deed" is
issued it may be necessary to sue for "quiet title" to ensure that you can
obtain title insurance on the property.

Tax Certificate Rates
ALABAMA: 12% per annum
ARIZONA: 16% per annum
COLORADO: 9 percentage points above the discount rate. [14% - 1996-97]
FLORIDA: 18% per annum
GEORGIA: 20-40% [20% first year, no matter when redeemed, 40% second year.]
ILLINOIS: 18% [regular sale; penalty bids up to 6 times the penalty bid]
[scavenger sales-to 48% +6%]
INDIANA: [1-6 months; 10%] [6 months-1 year; 15%] [after 1 year; 25%] [10%
on surplus bid] [12% on subsequent taxes and assessments]
IOWA: 24% per annum [24% on subsequent year's taxes or 2% per month]
KENTUCKY: 12% per annum
LOUISIANA: 17% per annum [5% penalty, no matter when redeemed] 12% for the
2nd year.
MARYLAND: As fixed by City Council, County Council, County Commissioners;
varies depending on county; [24%-Baltimore City] [20%-Montgomery County]
[20%- Prince George's County]; to a low of 6% in St. Mary's County.
MASSACHUSETTS: 16%
MICHIGAN: 15%-50% [15% per annum first year; 50% flat fee for second year.]
MISSISSIPPI: 18% per annum
MISSOURI: 10% per annum
NEBRASKA: 14% per annum
NEW HAMPSHIRE: 18% per annum
NEW JERSEY: 18%; penalty bids earned [2%; $200-$5,000...4%;
$5,000-$10,000...6%; $10,000 plus.]
NEW YORK: Bulk Sales;
NORTH DAKOTA: 12% per annum
OKLAHOMA: 8% per annum
RHODE ISLAND: 16% per annum [10% flat fee; 1-6 months] 1% for each
succeeding month.
SOUTH CAROLINA: 8%-flat fee; legal residence......Nonresidence; 8%-1st 6
months; 12%-2nd 6 months.
SOUTH DAKOTA: 12% per annum
TEXAS: 25%-50%
WEST VIRGINIA: 12% per annum
WYOMING: 18% [15% interest first year, plus flat fee of 3% , no matter when
redeemed.]

Canada
Sales of Lands for Tax Arrears are held at the county level. A book is
available "Non Traditional Methods of Buying Real Estate" at
http://www.taxsaleproperties.com/ourbook.html and gives more details
Statues for BC http://www.qp.gov.bc.ca/bcstats/96323_11.htm

Alabama
Contact the local Parish administrator for sale information
State Statute http://www.investorsnet.com/taxliens/tlcs-rc/

Arkansas
Contact the county tax division for sale information
State Statue http://www.state.ar.us/land/land.html
State Catalog http://www.state.ar.us/land/land.html

Arizona
Sales are conducted on a county by county basis
Apache http://taxsale.co.apache.az.us/treasurer2.html
Navajo  http://www.co.navajo.az.us/treasurer/

California
Sales are conducted at the county level by the Treasurer-Tax Collector.
Contact the local county office for specific information and sale dates.
Most sales start in February.
State Wide Sales List http://www.sco.ca.gov/col/taxinfo/defaultland/
Merced  http://www.co.merced.ca.us/treasurer/taxdefault.htm
Placer  http://www.placer.ca.gov/tax/tax-sale.htm
Riverside
http://usgovinfo.about.com/culture/usgovinfo/library/weekly/blriverside.htm?
iam=dp&rf=dp   on-line auction Jan 31 to Feb 7, 2000 Info at
http://www.co.riverside.ca.us/depts/treasure/taxfaqs.html
San Diego
http://www.co.san-diego.ca.us/cnty/cntydepts/general/treastax/taxsale/
Santa Barbara http://www.co.santa-barbara.ca.us/ttcpapg/delinq.htm#p0
Ventura http://www.ventura.org/tax_coll/auction.htm

Colorado
Tax Sale Liens are held at the county level
Investing in Colorado
http://www.freeyellow.com/members2/coloradorealestate/index.html
Legal Info http://www.frascona.com/resource/jag92tlc.htm
Adams  http://www.co.adams.co.us/treasurer/taxsale/taxsale.htm
Arapahoe http://www.co.arapahoe.co.us/tr/taxsale.htm
Boulder http://www.boco.co.gov/treas.html
Clear Creek http://co.clear-creek.co.us/Depts/Treasur/trlien.htm
Douglas http://www.douglas.co.us/Treasurer/TaxSaleRules.htm
El Paso http://207.17.210.66/treas/qv_remark.htm
Golden  http://www.denver.net/~mark/paid.htm
Jefferson http://co.jefferson.co.us/dpt/treas/taxliensale.htm
La Plata http://co.laplata.co.us/deptfrm.html
Larimer  http://www.co.larimer.co.us/treasurer/TAXSALE.HTM
Mesa  http://www.co.mesa.co.us/treasurer/treasure3.htm
Pueblo  http://www.co.pueblo.co.us/treasurer/
Routt  http://www.yampa.com/routt/treasurer/

Connecticut
Investing in Connecticut http://freeyellow.com/members/cntaxsales/index.html

Florida Tax Certificate Sales are held at the county level
Investing in Florida http://www.freeyellow.com/members/flre/index.html
County Map http://www.taxcollector.com/Other/FTCA/FLTaxCollectors.htm
Manatee http://www.taxcollector.com/TaxSale98.htm
Leon   http://www.co.leon.fl.us/txcol/taxsale.htm start in May 2000
Martin  http://www.admin.co.martin.fl.us/GOVT/co/pa/sale_date.html
Brevard http://www.clerk.co.brevard.fl.us/taxdeed/taxoct.htm
Tampa  http://www.tmauction.com/

Georgia
Contact the county treasurer's office for specific sales information
State Statute Code Sections - Article 3 of Chapter 4 of Title 48 Contact
your local county treasurer for specifics
Gillmer  http://www.gtsweb.com/Gilmer.htm Sale set for Jan 2000
Franklin http://www.gtsweb.com/Franklin.htm Sale set for Jan 2000
Hall  http://www.gtsweb.com/Hall.htm Sale set for Jan 2000
Gwinnett http://www.tax.co.gwinnett.ga.us/taxsaleinf.htm

Hawaii
Investing in Hawaii http://www.freeyellow.com/members/hire/index.html

 Indiana
Sales are at the county level most sales are in Sept & October
Sample Terms and Conditions http://www.ci.indianapolis.in.us/treas/taxsale/
County Info http://www.investorsnet.com/taxliens/tlcs-rc/
Marion  http://www.indygov.org/treas/taxsale/proptax99.htm

Iowa
Conducts tax lien auctions on the third Monday in June. Check with local tax
officials for further information
Investing in Iowa http://www.freeyellow.com/members/iataxsales/index.html
Johnson  http://www.jccn.iowa-city.ia.us/~jcgovis/treasurer/taxsale.htm

Kansas
Contact the County Counselor
Investing in Kansas
http://www.freeyellow.com/members/kansasrealestate/index.html

 Maine
Contact webmaster_tax at state.me.us for sale dates

Maryland
Sales are at the county level in May and June
Anne Arundel http://www.capitalonline.com/classifieds/notice.html
Legal info  http://www.co.mo.md.us/services/finance/taxsale.html

Massachusetts
Sale dates vary, contact local officials

Michigan
Tax lien sales are held at the county level on first Tuesday in May,
beginning at 10:00 a.m.
See  http://www.state.mi.us/treas/localgov/3488.htm
Genesee http://www.keva.com/gencounty/administration/treasurer/taxsale.html
Wayne  http://www.waynecounty.com/treasurer/faq.htm

Minnesota
Contact the local Tax and Revenue Division
Douglas  http://www.co.douglas.mn.us/legals/344.cfm
For further information contact the Taxpayer Services Department at (612)
348-3734, or visit the Delinquent Tax & Tax-Forfeited Land Office of the
Taxpayer Services Department, A-600 Government Center, Minneapolis, MN
between 8:00 a.m. and 4:30 p.m. or send an e-mail to
Gordon.Ramm at co.hennepin.mn.us or Gary.Hoecherl at co.hennepin.mn.us

Mississippi
For further information contact local tax officials. Sales are usually held
in Aug

Missouri
Contact your local county collector
Legal info  http://www.moga.state.mo.us/statutes/C100-199/1410260.HTM
Boone   http://boone.county.missouri.org/collector/txslebro.html

Montana
Contact your local government center. Sales are usually held in July

Nebraska
Sells tax lien certificates with a coupon rate of 14%. Delinquent taxes are
published in February and can be bought in March. While the Omaha and
Lincoln areas can get into bidding, most of the smaller counties do not

Nevada
Contact your local country Tax Division as the state issues certificates of
lien

New Hampshire
Investing in New Hampshire
http://www.freeyellow.com/members2/newhampshiretaxsales/index.html

New Jersey
Contact the local county agency as the state does not have set auction dates
See "New Jersey" http://www.investorsnet.com/taxliens/tlcs-rc/ for addresses
and phone numbers
Permberton  http://www.pemberton-twp.com/Collector.htm

New Mexico
All County Sales are conducted by the state
http://www.state.nm.us/tax/ptd/intsales.htm

New York
Tax Lien Sales are held at the county level
Legal info for NYC  http://161.185.203.7/html/dof/html/liensale.html
Oswego     http://www.co.oswego.ny.us/rpts/catalog/
New York City   http://www.ci.nyc.ny.us/html/dof/html/lienlist.html
Nassau   http://www.co.nassau.ny.us/treasurer/html/taxlien.html Feb 18, 2000

North Carolina
No info available, contact local government agency

North Dakota
Tax lien auctions are held on the second Tuesday in December. For further
information contact local tax officials.

Ohio
Contact the Delinquent Property Tax Division for specific dates. Sales are
generally in Feb

Oklahoma
The sales are generally conducted in October. Contact the local tax
officials
Oklahoma
http://www.oklahomacounty.org/treasurer/BRIEFTAXLIENSALINFORMATION.htm

Oregon
Contact the local Tax and Revenue Division. Sales are generally held in May

Pennsylvania
Contact your Tax Claims Director for sale dates

Rhode Island
Investing in Rhode Island
http://www.freeyellow.com:8080/members/rhodeisland/

South Carolina
See "South Carolina" http://www.investorsnet.com/taxliens/tlcs-rc/

South Dakota
Investing in South Dakota
http://www.freeyellow.com/members/southdakota/index.html

Tennessee Sales are held at the county level
Knox  http://www.korrnet.org/knox/trustee/tax_sale.html

Texas
Sales are held all year long on a county by county basis
Investing in Texas property http://www.creonline.com/articl85.htm
Legal info  http://www.hcad.org/TaxCode/Chapter34.html
Travis   http://www.co.travis.tx.us/tax_assessor/foreclosure/oct/default.htm
Hunt   http://www.koyote.com/personal/hctax/
Houston          http://www.foreclosehouston.com/flsnew2.htm
Utah
Contact the local Tax Board for sale dates
Utah County   http://161.119.38.190/dept/clerk/TAXSALE.HTM sales on May 18,
2000

Vermont
 No info available, contact local agency
Investing in Vermont  http://www.freeyellow.com/members/vermont/index.html

West Virginia
Auctions of Delinquent Lands are announced by the State Commissioner's
office and sales are held in October and November

Virginia
Contact the Department of Tax Administration for sale Dates

Washington
Contact the county assessor's office for sale information

Wisconsin
Contact the local Tax and Revenue for sale information

Wyoming
Sales are generally held in July, August and September. Contact the County
Treasurer as the state issues a Certificate of Purchase for that property.
No ownership or access to the property by the Certificate of Purchase holder
transpires until the recorded owner by deed has allowed the taxes to go
delinquent for four consecutive years
Uinta  http://www.webcom.com/ucedc/county/html/tax_sale.html

Reference Materials
Real Estate Tax Sale Manual Overview ISBN: 0-9623141-7-X
How to Buy Book ISBN 0-9663393-0-4 http://www.howto-taxsales.com/rs0002.html
Real Estate Investing "how to" http://www.creonline.com/art_menu.htm
Tax Assessors by State      http://pubweb.acns.nwu.edu/~cap440/assess.html
Tax Lien Research Center http://www.investorsnet.com/taxliens/tlcs-rc/
Tax Sale Buyer Guide http://www.gtsweb.com/Guide.htm
Info article http://www.incomeproducer.com/tax.html
Info article    http://www.gosprings.com/

Paul Salas
General Manager
SANCO Enterprises, LLC
P.O. Box 45741
Rio Rancho, NM 87174
(505)  238-1485

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