Tax Lien Investing

Foreclosures, Short Sales, Tax Foreclosures
1

Anyone have any advice on the tax lien investing niche? I would appreciate anything. Thanks guys.

2

Go to your local Tax Assessor’s Office and do research to compile a list.

3

What sort of things am I looking for at the assessor’s office?

4

I think you can just ask for a list of tax lien properties for the year and they can point you in the right direction. Most states have an auction every year that is a matter of public record. It even get’s advertised.

All do a search on this forum. There are plenty of articles about this sort of thing.

5

Most counties/cities also have a website where you can look up homes with delinquent taxes too. Also your realtor can pull this info if they have access to Public Records thru MLS. I am a realtor and we have that in our MLS system.

6

Really? How do you access it via the MLS?

7

In our MLS system we have a Public Records Feed.
If not, here in SE MI each of the counties have online sites to search by deed type etc.

8

I have some very general questions about property taxes and tax liens.

  1. Towns/Citys conduct periodic evaluations to determine current property values. From there, they determine the “assessed value”. In my area assessed value is 70% of market value. Is this the common percentage?

  2. Mill Rate: is there a typical mill rate range used by most Town/Cities?

Is there somewhere where I can see a general average on this?

Thanks.
Vicky

9

Hi Vicky,
In my area currently assesed value is pretty close to market value. That is just because of the market corrections. There was a time where to get an accurate value if there were no comparables we would multiply assesed value by 2.5 to get a fairly accurate market value. Those days are currently gone. Prices are falling here in Michigan.

Every town or city probably has different mill rates. For example: Livonia MI is .036 currently another area might be .034 or in the case of Detroit it is .060 I believe or close to that. Point being every town may be different but close.

County websites or a state website will have an area where you can get this data. mich.gov has an area where you can punch in the assesed value and get a pretty accurate figure on what the property taxes will be.

10

Hey,
If you are interested in tax liens Texas is the best place to do it. Read Texas Houses for Pennies found in the resources area to the left. It is very complete and very good. Texas has the easiest, safest and most lucerative system for tax liens.
Peace,
Richard