The tax lien sale is the final step in the treasurer's efforts to collect taxes on real property. A tax lien is placed on every county property owing taxes on January 1 each year and remains until the property taxes are paid. If the property owner does not pay the property taxes by late October, the county sells the tax lien at the annual tax lien sale. The tax lien is auctioned to the highest bidder, who then becomes the tax lien certificate holder.
The tax lien sale allows taxing authorities to receive their budgeted revenue without having to wait for delinquent taxes to be collected. It also provides an investment opportunity for the general public, members of which can purchase tax lien certificates that can potentially earn an attractive interest rate.
The property owner has three years to redeem the tax lien before the investor is eligible to apply for a treasurer’s deed on the property. In addition to the amount of the delinquent taxes, the property owner pays an interest charge, which is credited to the tax lien investor.
To obtain a payoff amount for an existing tax lien call or email our office.