|
Canada
|
|
2 to 3 years
|
|
Many Provinces only have one sale per year, Ontario has sales every
month
|
Canada conducts tax deed sales
|
|
Alabama
|
|
3
years
|
Decent
|
May or June
|
|
|
Alaska
|
|
|
|
|
State only conducts tax deed sales
|
|
Arizona
|
16%
|
3
years
|
Excellent
|
February
|
Notice will
appear in county newspaper two weeks before sale. Auctions held in February. New laws require the
investor to be responsible for foreclosure and for hiring an attorney if the tax lien is not
redeemed.
|
|
Arkansas
|
|
|
|
|
State only conducts tax deed sales
|
|
California
|
18%
|
2 years
|
|
|
Tax Deed State - California is authorized to have tax lien certificate sales but so far only the
area around San Francisco is considering having tax lien certificate
sales.
|
|
Colorado
|
9% plus
federal discount rate
|
3
years
|
Decent
|
Notices will appear in county newspapers in October. Tax lien auctions occur on or
before the second Monday of December, and continue every day until all properties are
sold.
|
Some
counties use a round robin process; in other counties, the highest bidder is awarded the tax
lien.
|
|
Connecticut
|
18% right of redemption on
tax deeds. No tax lien certificates sales.
|
6 months
|
|
|
|
|
Delaware
|
15% to 20% depending on the
rules of the county
|
1 year
|
|
|
No tax liens,
state only conducts tax deed sales
|
|
Florida
|
18%
|
2
years
|
Very
Good
|
May and June
|
At the
auction, you pay 10% of the total tax lien; after the tax lien certificate is prepared you must
pay the remaining balance within 48 hours. Florida also has favorable tax deed sales, with no
subsequent legal challenge period.
|
|
Georgia
|
20%
|
1 year
|
|
|
Tax Deed state - Georgia does not sell tax lien certificates.
|
|
Hawaii
|
12% if the tax deed is
redeemed
|
1 year
|
|
|
No tax lien auctions, only tax deeds are
sold
|
|
Idaho
|
|
|
|
|
No tax lien auctions, only tax deeds are
sold
|
|
Illinois
|
18% every 6
months, or 36% per year. On farmland it is 12% every 6 months or 24% per year. On farmland, the
interest rate is considered a penalty.
|
2 - 2 ½
years, depending upon the property classification
|
Very
Good
|
|
Two systems
exist: one for recently delinquent properties and one for properties delinquent more than two
years. Under the first system, auctions are held after June 1 and September 1. October or
November is when the sales are usually held. Under the second system, auctions are infrequent,
usually once every two years.
|
|
Indiana
|
Up to 25%.
Flat 10% on the minimum bid if redeemed in less than six months. Flat 15% on the minimum bid if
redeemed in more than six months but less than 1 year. Interest on the overbid amount is 10% per
annum.
|
|
Excellent
|
August, September
and October
|
County
requirements can be complicated. .
|
|
Iowa
|
24%
|
21
months
|
Excellent
|
Auctions occur on the third Monday in June and continue until all properties are
offered for sale
|
Auctions are conducted through random drawings.
|
|
Kansas
|
|
|
Decent
|
|
No tax lien
auctions, only tax deeds are sold
|
|
Kentucky
|
12%
|
1
year
|
Decent
|
Varies
|
Kentucky does
not emphasize tax certificate sales. Hard to find information on the
Internet.
|
|
Louisiana
|
17%
|
3
years
|
Very
Good
|
Auctions are usually held May through November at the discretion of the
parish.
|
Tax lien
purchaser can ask for immediate possession of the property after two years.
|
|
Maine
|
|
|
|
Varies
|
No tax lien auctions, only tax deeds are
sold
|
|
Maryland
|
6 to
24%, depending upon the county or city
|
6 months to 2
years, or as long as the right of redemption has not been barred by foreclosure
|
Very
Good
|
|
Local
variations to tax lien process can be tricky.
|
|
Massachusetts
|
16%
|
6 months
|
|
|
By law
Massachusetts can have tax lien sales but most municipalities conduct tax deed sales
instead
|
|
Michigan
|
|
2 years
|
|
|
All sales are now
straight tax deed sales with no interest rate
|
|
Minnesota
|
|
1 year
|
|
April, May,
September and October
|
No interest rate, state only has tax deed
sales
|
|
Mississippi
|
18%
|
2
years
|
Excellent
|
last Monday in
August
|
Bidders can
overbid the minimum bid set, but the overbid is not reimbursed upon redemption and no interest is
earned on it.
|
|
Missouri
|
10% plus
penalties owed
|
1 year on first and second offerings and
90 days on third offerings.
|
Decent
|
Third or Fourth Monday in August
|
Bidders bid
on what they would be willing to pay for the property, assuming the owner never
redeems.
|
|
Montana
|
10%
|
2 to 3 years,
depending upon the property classification.
|
Decent
|
July
|
Not a lot of
public information on tax lien certificate sales.
|
|
Nebraska
|
14%
|
3
years
|
Very
Good
|
Public tax sales held
once a year on the first Monday in March
|
|
|
Nevada
|
12%
|
120 days for
vacant land, 2 years for developed land
|
Decent
|
|
Tax lien
sales are infrequent except for in Carson County (Las Vegas). Most counties only have tax deed
sales
|
|
New Hampshire
|
|
5 years
|
|
Varies
|
New Hampshire
conducts tax deed sales
|
|
New
Jersey
|
18% or
greater depending on penalties
|
2
years
|
Excellent
|
|
Tax lien
sales are called certificates of purchase. Rules are complex.
|
|
New Mexico
|
|
2 years
|
|
Properties are usually offered when the
numbers of delinquent tax payers gets large enough to justify a sale
|
No tax lien auctions, only tax deeds are
sold
|
|
New
York
|
10 to 14%,
depending upon the county or municipality
|
Minimum of 2
years.
|
Decent
|
April or August
|
Process
varies between counties. TLC & Tax Deed state depending on county. In New York City liens are not sold to the general
public
|
|
North Carolina
|
|
|
|
December
|
Tax lien sales are not offered. Deed
sales are held in December
|
|
North Dakota
|
|
|
|
November
|
North Dakota
conducts tax deed sales
|
|
Ohio
|
18%
|
1
year
|
Excellent for
institutional investors.
|
June
|
Limited to institutional
investors. Tax lien sales are only held in counties with a population greater
than 200,000 people. Large investors can corner sales. Tax deed sales also can be
held.
|
|
Oklahoma
|
8%
|
2
years
|
Decent
|
Tax
lien sales held the first Monday of October.
|
Tax
deed sales, which can also be conducted, are held on the second Monday of June.
|
|
Oregon
|
|
|
|
|
Tax deed state
|
|
Pennsylvania
|
|
|
Good
|
Usually occur in September and Judicial
sales are in the spring
|
state only has tax deed sales
|
|
Puerto Rico
|
20% regardless of when it is redeemed
|
|
|
|
|
|
Rhode Island
|
16%
|
1 year
|
Decent
|
|
Rhode Island
conducts tax deed sales
|
|
South
Carolina
|
12% unless
alternative method of taxation used; then 8% penalty the first year plus 4% if redeemed during the
second year
|
1 year unless
alternative method of taxation used; then 18 months
|
Good
|
|
South Carolina does not have
tax deed sales. Bidder must pay money by the end of the sale day, or can be fined up
to $300.
|
|
South
Dakota
|
|
|
|
|
As of 2006, no more sales are conducted, but many foreclosures auctions are still held in
the state
|
|
Tennessee
|
10%
|
1 year
|
|
|
No tax lien auctions, only tax deeds are
sold
|
|
Texas
|
25%
|
1st six months
|
|
|
Texas does not have tax lien certificate
sales.
|
|
Utah
|
|
|
|
May
|
tax deed sales only
|
|
Vermont
|
12%
|
1
year
|
Decent
|
Varies by City
|
Tax
collection handled by municipalities.
|
|
Virginia
|
|
|
|
|
No tax lien auctions, only tax deeds are
sold
|
|
Virgin Islands
|
12%
|
1 year
|
|
|
Tax lien auctions
are actually tax deed sales with a right of redemption.
|
|
Washington
|
|
|
Good
|
Varies by County
|
No tax lien auctions, only tax deeds are
sold
|
|
Washington D.C.
|
18%
|
6
months
|
Decent
|
|
Also conduct
Bid Off Sales of properties left over from lien sale and not redeemed.
|
|
West
Virginia
|
12%
|
17
months (some sources say 18 months)
|
Decent
|
October - November
|
Properties
left over from the lien sale are certified to the State; if not redeemed, they are sold at Second
Sales.
|
|
Wisconsin
|
|
|
|
Most are in September
|
Wisconsin only
conducts tax deed sales. Sales are held by cities and it is hard to find
information on them.
|
|
Wyoming
|
18%
|
4
years
|
Very
Good
|
July through
October for most counties
|
Tax liens are
called certificates of purchase.
|
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