Tax Lien Sale Information
Advertising List 2008 Tax Sale Real Estate
Advertising List 2008 Tax Sale Mineral Interests
Date and Time of Sale:
November 14, 2008 at 10:00 a.m.
Time of Registration: 8:00 to 10:00
A.M. the morning of the sale
Location of Registration: Logan
County Treasurer's Office, 315 Main Street, Sterling, Colorado
Location of Sale: Logan County
Courtroom, Logan County Courthouse, 315 Main Street, Sterling, Colorado
Interest Rate: 11%
Pre-Sale Happenings:
Property tax liens to be sold at the tax
lien sale are advertised in October.
Advertisement is made once a week for three
consecutive weeks in the Sterling Journal-Advocate
An advertising list may be picked up prior
to the day of the sale, or can be mailed to out of town buyers. Mailing
will include tax lien sale information and an advertising list.
An advertising list will be posted in the
Treasurer's Office, which will be available for inspection during our
regular office hours. This list will be updated daily.
Tax Sale Proceedings
Registration begins at 8:00 a.m. The sale
will begin at 10:00 a.m. The sale is conducted in an auction type of sale.
Each tax lien is offered in alphabetical
order for the amount of tax, late interest and cost of advertisement.
Premium bids will be in dollar increments for any amount under $1,000.00
and $5.00 for any amount $1,000.00 and over.
The sale is conducted as rapidly as
possible, consistent with the objectives of the sale and fair play to all
bidders.
Delinquent manufactured homes and separate
special assessment tax lien sales will immediately precede the real estate
sale.
Original Tax Lien Sale Certificates of
Purchase will be retained in the Treasurer's Office (unless requested
otherwise). This facilitates immediate payment to the buyer.
All purchases must be covered by cash,
certified checks, bank cashier's checks, same day wire, or personal checks
guaranteed by bank's irrevocable letter of credit approved by the
Treasurer prior to the day of the sale.
Each individual investor will be allowed
one registration and will receive a unique bidder number that coincides
with the name that the certificate will be issued under.
No change in the registrant name will be
allowed. After a sale is finalized and certificates have been printed, by
law assignments may then be made.
A buyer may leave at any time or upon
completion of the sale. Payment will be made in the Treasurer's Office.
The buyer will receive a printout with parcels purchased and amount paid.
GENERAL INFORMATION
The Treasurer will file with the Court on
behalf of Certificate holders on property that goes into bankruptcy. The
Certificate holder may, however, be notified.
Purchasing delinquent tax liens at tax lien
sales is becoming an increasingly popular form of investment.
Interested? Here are some facts to help you
understand what a tax lien investment is, and what it is NOT.
When you purchase a tax lien sale
certificate on property, you become a recorded lienholder on that
property.
You purchase the tax lien, NOT the
property! In Logan County, eventual transfer of deed has occurred in less
than 11% of all purchases.
Investing in tax liens thru purchase at a
tax lien sale is just that - an investment. The purchase can be thought of
in terms of a potentially long-range C.D. Redemption of the certificate is
always at a guaranteed rate of return, and can occur up until the time the
Treasurer's Deed is issued.
Each year the Colorado Banking Commission
determines the rate of return. The annual percentage rate is set at nine
points above the federal discount rate as of September 1 of that year.
In accordance with Section 39-11-151, C.R.S.,
no property for which a tax lien is sold for delinquent taxes shall be
conveyed to an elected or appointed county official, to a county employee,
or to a member of the immediate family of any such person or to the agent
of any such county official or employee, if the tax lien on such property
is sold during the time the official or employee holds office or is
employed.
ALL TAX SALES IN COLORADO ARE CONDUCTED PER
CRS 39-111-101 THRU 39-12-113.
PAYMENT OF SUBSEQUENT YEAR' S TAX
If taxes have not been paid 15 days after
delinquent notices have been sent to property owners, notification will be
mailed to the certificate holder for the amount due on liens currently
held. Interest earned on any subsequent tax remains the same as on the
original certificate amount and accrues from date of payment.
APPLICATION FOR TREASURER'S DEED
The application process for a Treasurer's
Deed can be initiated THREE years from the date of the original tax sale
1. Obtain request form from Treasurer 2.
Submit signed request with deposit ($125 for non-published or $250 for
published)
Deposit covers: Title search Advertisement
Certified Mail Payment of subsequent taxes or special assessment due at
Deed issuance date
If redemption is made prior to Deed
issuance, deposit will be refunded in full with redemption payment.
FEES
The County Treasurer shall charge and
receive a percent of property taxes collected on behalf of its taxing
entities as set forth in Section 30-1-102, C.R.S. In addition, the
Treasurer charges the following fees for services performed:
For each copy of a receipt issued for
current year taxes, $2.00; and for each copy of a receipt issued covering
taxes for a prior year, $5.00
For advertising delinquent personal
property taxes, $10 or the cost of advertising, whichever is greater
For certifying the amount of taxes due on
any parcel of real estate, and for certifying outstanding sales for unpaid
taxes with the amount required for redemption, $10 for each certificate
In connection with a sale for delinquent
taxes, for advertising each property description that is separately
identified by its own parcel number for general property tax purposes, the
estimated cost of advertising but not less than $10
For each certificate of purchase delivered,
$4
For endorsing the amount of subsequent
taxes paid on tax certificates and the date of payment in the book of tax
sales, $5 for each certificate
For processing an application for
treasurer's deed, $35 if the application is not advertised and $75 if the
application is advertised
For the assignment of a certificate of
purchase, made to the county at any tax sale, to a person desiring to
purchase land covered by such certificate, $4
For each notice of purchase required by
section 39-11-128(1), C.R.S., to be served before a treasurer's deed may
be issued, the cost of publication in a newspaper where such publication
is required
For each certificate of redemption
delivered, $7
For services in collecting drainage
district assessments, such amount as the board of directors of the
district may allow, but not less than $25 nor more than $100 per annum
For services in collecting irrigation
district assessments, such amount as the board of directors of the
district may allow, but not less than $25 nor more than $100 per annum
For services rendered in handling the
payment of principal and interest on bonds of a school district, such
amount as the county treasurer and the board of education shall agree
upon, which shall be determined in accordance with the prevailing rate
charged for similar services rendered by commercial banks in the state of
Colorado
For preparation of a distraint warrant, $15
For research, $15 per hour or portion
thereof, one hour minimum
For the notice, computation and recording
provided in section 32-1-1604, C.R.S., $30
This page was last
updated 10/10/08
