Cob: Updated Property Tax Sale Info

[SANCO Enterprises, LLC]

Note:
Some of the formatting has been lost in plain text format.  If you want the
file in WORD, please e-mail and I will forward the post as an attachment.

The New Year of 2001 has begun and many on the list have not achieved last
year’s goal to buy a piece of property to start that “Do it my way home
construction project”.  You may be missing a great opportunity to buy land
and build your dream home.

Tax Delinquent properties go on the auction block starting this month in
many states.  I have 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 out-dated, however use them
to contact the agency that conducted the last sale. Tax Deed and Tax
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 where I live, 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 that 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 in
that state 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 be
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.  Many of these properties are re-sold with a Quit Claim Deed by
wholesale realtors.  These realtors buy 40 plus lots and within a month or
so they re-sell them at a rate of 100-1000% return.

When I have purchased properties at a New Mexico Tax Sale, I have been
successful in obtaining a release of interest in the property from the
former owners by having them sign a Quit Claim Deed.  In December 1998 I
purchased a ½ acre lot in Rio Rancho, New Mexico with utilities 700’ way for
the sum $2200.  The original owner had passed away and none of the Five (5)
heirs to the estate wanted to acquire the property from the others, so they
let the taxes lapse.  None of these people saw any value in the property.
The heirs were living in Hawaii, Minnesota, Pennsylvania, Texas and
California.

By February 1999, I had obtained the Quit Claim Deeds from all of heirs and
immediately took out a building permit.  We completed construction and moved
into our five (5) bedroom home on October 10, 1999.  Total cost including
land, utilities and construction was $72,350.00.  There is also an
additional benefit.  Since I had to install a 6” water main, 2” gas line,
underground electrical and transformer, a telephone line (100 pair) and
since I crossed 14 lots in the process, we will be reimbursed $1856.00 per
lot if anyone builds within the next 7 years.  The point here is that there
are many misconceptions about investing in Tax Defaulted property and the
misinformation being broadcast is from those who do not understand the
process or make incorrect assumptions.

In the event you use the information furnished in this post, please let us
know about your success so that others may learn valuable lessons from your
experience.

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......Non-residence; 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
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
Arapaho 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
Iowa
See 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
Taxes on property are imposed at the local level and sales vary. Contact
local government tax collector
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
Ohio
Contact individual county officials
Belmont County Location: Belmont County Courthouse, of the properties by
writing to Joseph A. Pappano, Belmont County Auditor, Courthouse, St.
Clairsville, Ohio 43950.
Butler County Phone : (513) 887-3154 Contact: Kay Rogers C.P.A., Delinquent
Property Tax Division 130 High St. Hamilton, OH 45011
Delaware County http://www.co.delaware.oh.us
Hamilton County Phone : (513) 632-6500 Delinquent Property Tax Division 138
E. Court St. Cincinnati, Oh 45202
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/

The information provided is to be used as a reference only to assist you in
locating resources.  Dates and times are subject to change.  Plan early if
you intend to pursue a purchase.  Good luck.


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