TAX LIEN CERTIFICATE STATES -
Alabama – 12% interest annually, 3 year redemption period
Arizona – 16% int, 3 year
Colorado – 9% + federal discount rate, 3
Connecticut – 18% flat rate int, 1 year
Florida – 18% int, 22 months
Illinois – 18% int, 6 months
Indiana – 10% flat rate 1st 6 months…15% 2nd 6 months, 1 year
Iowa – 24% int, 1 year 9 months
Kentucky – 12% int, 1 year
Louisiana – 5% + 1% each month, 3 year
Maryland – 6% - 24% (counties vary), 6 months – 2 year
Mississippi – 18% int, 2 year
Missouri – 10% int, 2 year
Montana – 10% int, 2-3 year
Nebraska – 14% int, 3 year
Nevada – 12% int, 120 days vacant land…2 year developed land
New Jersey – 18% int, 2 year
New York – 14% int, 1 year
Oklahoma – 8% int, 2 year
Ohio – 18% int (bulk sales only)
Rhode Island – 10% 1st 6 months + 1% each additional month, 1 year
South Carolina – 12% int (3% each quarter), 1 year
South Dakota – 12% int, 3 year
Vermont – 12% int, 1 year
District of Columbia – 18% int, 6 months
West Virginia – 12% int, 1 year
Wyoming – 18% flat rate int, 4 year
TAX DEED STATES
Connecticut – (redeemable deed) 18% int, 1 year
Georgia – (redeemable deed) 20% int, 1 year (10% increase each year after)
Hawaii – (redeemable deed) 12% int, 1 year
Tennessee – (redeemable deed) 10% int, 1 year
Texas – (redeemable deed) 25% int, 6 months – (50% if redeemed in 2nd year)
I have a quick question about Hawaii tax deeds. I’ve been looking at a lot of foreclosure property down there (mostly hotel condos) and noticed that most real estate are on 99 year land leases that are expiring soon. If I bought a tax deed and tried to foreclosure on it, what I would a get? A fee simple deed with a building? A building on a land lease where I still have to pay for the land lease? Or the land, but not the building, where a homeowner might be locked in for a very long time as a leasor paying an unreasonably low land rent without any way of the owner of the land foreclosing on the building?
you would get the property (land plus the improved structure - whatever it may be)
when property lines are first drawn around an area of land, that land is given a parcel #…wehn you buy the tax lien (or redeemable deed)…you are purchasing it on the land and whatever structure is on that land.
Since you owuld now own the property, you would have to start paying the taxes, just like you do on anythig you own in real estate.
Do not worry about the homeowner being able to live there and pay rent…yes, I think it is unfortunate, but the person who owned the home (or the person currently residing there) is going to have to move on…this is now you’re property…and even if they do redeem, you make a flat rate of 12%, which is pretty good.
I live in utah and plan to attend the salt lake county tax deed sale. Im trying to find information if there are any liens that would survive after getting the tax deed, would you know? I’ve looked at the utah law codes http://le.utah.gov/~code/TITLE59/59_02.htm but it doesnt tell me if I would get the title free and clear.
go to the link titles ‘state prop-erty codes’ under the resources section on the left side of the main page on this site.
it breaks the down the different sections so you can find the section you are looking for a little easier.
it probably won’t say directly whether or not you will get the title free and clear…but there has to be a section on what liens (if any) will survive the issuance of a tax deed.
make sure to be aware of IRS liens.
the IRS has 120 days to petition the after the sale…they normally are not out to get anybody but the person who owes them monies…
If someone bought the tax debt but hasn’t foreclosed on the property I believe that you can still purchase the property from the owner and just pay off the tax debt (plus interest) at the closing. Can someone confirm if this is correct?