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Ohio
Sales Types: Tax Lien and Tax Deeds
Interest Rate of Return: 18%
Bidding Methods: Premium Bid, Bulk Bid
Redemption Period: 1 Year
Sale Dates: Deeds all year around, Liens annually
State Statute(s): Title 57 CH 5721, 5723
Over-the-Counter: No
Ohio State's Website: www.ohio.gov
Interest Rate of Return: 18%
Bidding Methods: Premium Bid, Bulk Bid
Redemption Period: 1 Year
Sale Dates: Deeds all year around, Liens annually
State Statute(s): Title 57 CH 5721, 5723
Over-the-Counter: No
Ohio State's Website: www.ohio.gov
Ohio State Overview
Ohio is a hybrid state because some counties hold tax lien sales, and many others hold tax deed foreclosure auctions. Counties with a high enough population are 'allowed' to sell tax lien certificates, while the remainder of counties are limited to tax deeds. Bulk tax lien certificate auctions in Ohio happen once a year.
Starting bid of tax deed properties will be at least two thirds of the property value. Still a great deal, of course with tax sales we can be picky when we want to, right?
The tax deed foreclosure auctions in Ohio counties are lumped in with the sheriff sales. It is not uncommon to see sheriff sales happening every week in many of the deed counties of Ohio. Many of these sheriff sales will include at least a few tax foreclosure properties mingled in with all the other mortgage foreclosure properties. Some lists specify which properties belong to which group, some lists don't.
Look for lien certificate auctions in Franklin County (Columbus), Cuyahoga County (Cleveland), and Hamilton County (Cincinnati).
Ohio is unique in that it offers both tax lien certificates and tax deeds. For tax lien certificates, investors can get yields as high as 18% per annum with a one year right of redemption. Tax Deeds are sold to the bidder with the highest bid.
Ohio is a hybrid state because some counties hold tax lien sales, and many others hold tax deed foreclosure auctions. Counties with a high enough population are 'allowed' to sell tax lien certificates, while the remainder of counties are limited to tax deeds. Bulk tax lien certificate auctions in Ohio happen once a year.
Starting bid of tax deed properties will be at least two thirds of the property value. Still a great deal, of course with tax sales we can be picky when we want to, right?
The tax deed foreclosure auctions in Ohio counties are lumped in with the sheriff sales. It is not uncommon to see sheriff sales happening every week in many of the deed counties of Ohio. Many of these sheriff sales will include at least a few tax foreclosure properties mingled in with all the other mortgage foreclosure properties. Some lists specify which properties belong to which group, some lists don't.
Look for lien certificate auctions in Franklin County (Columbus), Cuyahoga County (Cleveland), and Hamilton County (Cincinnati).
Ohio is unique in that it offers both tax lien certificates and tax deeds. For tax lien certificates, investors can get yields as high as 18% per annum with a one year right of redemption. Tax Deeds are sold to the bidder with the highest bid.
- Tax Sale Type: Tax Deed Sale (Sec. 5721.19) and Tax Lien Certificates (see notes) (Sec. 5721.31).
- Contact: The County Treasurer. (Sec. 5721.31).
- Interest Rate and/or Penalty Rate: 18% per annum (for tax lien certificates). (Sec. 5721.32 (C)).
- Bid Procedure: Premium bid / highest bid (tax deeds). (Sec. 5721.19). Bid down interest rate (tax lien certificates). (Sec. 5721.32 (C)).
- Redemption Period: One (1) year. (Sec. 5721.37 (A)(1)).
- Law: Ohio Revised Code, Title 57, Chapter 5721, "Delinquent Lands," and Chapter 5723, "Forfeited Lands."
- Tax Lien Certificate Sales: According to (Sec. 5721.31) 'Counties having a population of at least 200,000, may collect delinquent taxes by selling tax lien certificates at public auction'.
Oklahoma
Sale Type: Tax Deed
Bid Method: Highest Bidder
Sale Date(s): June
State Statute(s): Title 68 Article 31
Over-the-Counter: Yes
State Website: www.ok.gov
Bid Method: Highest Bidder
Sale Date(s): June
State Statute(s): Title 68 Article 31
Over-the-Counter: Yes
State Website: www.ok.gov
Oklahoma State Overview
Oklahoma county treasurer's and tax collector's sell tax lien certificates to the winning bidder at the delinquent property tax sale. In addition, Oklahoma sells tax deeds.
The "Tax Sale" is held each year on the first Monday in October (Sec. 68-3107). The winning bidder receives a tax lien certificate which draws interest at 8% per annum subject to a 2 year redemption period.
Any tax lien not sold at the "Tax Sale" is assigned to the county and can be purchased over the counter anytime prior to the expiration of the 2 year redemption period (Sec. 68-3108).
The "Resale" or second buying opportunity includes properties which remain unredeemed for a period of two years from the date of the sale..." (Sec. 68-3125) and occurs the second Monday of June each year. The winning bidder will receive a treasurers or tax deed. Any propery not sold at the "Resale" will be struck off to the county.
The "County Commissioners Sale" or third buying opportunity includes properties not sold at either the "tax sale" or the "resale". At the county commissioner sale "Properties are sold by the treasurer at a price approved by the county commissioners" (Sec. 68-3135).
Oklahoma county treasurer's and tax collector's sell tax lien certificates to the winning bidder at the delinquent property tax sale. In addition, Oklahoma sells tax deeds.
- Tax Sale Type: Tax Lien Certificate (68-3111) and Tax Deed (68-3135).
- Contact: The County Treasurer. (Sec. 68-3108 (A)).
- Interest Rate and/or Penalty Rate: 8% per annum. (Sec. 68-3113).
- Bid Procedure: Random selection or 'impartial drawing'. (Sec. 68-3108 (A)).
- Redemption Period: Two (2) years. (Sec. 68-3117 (b)).
- Law: Title 68, Article 31, "Delinquent Taxes and Collection."
- Multiple Tax Sales: As far as Oklahoma is concerned, at 8% per annum it doesn't provide the biggest rate of return. However, it does keep the competition down.
The "Tax Sale" is held each year on the first Monday in October (Sec. 68-3107). The winning bidder receives a tax lien certificate which draws interest at 8% per annum subject to a 2 year redemption period.
Any tax lien not sold at the "Tax Sale" is assigned to the county and can be purchased over the counter anytime prior to the expiration of the 2 year redemption period (Sec. 68-3108).
The "Resale" or second buying opportunity includes properties which remain unredeemed for a period of two years from the date of the sale..." (Sec. 68-3125) and occurs the second Monday of June each year. The winning bidder will receive a treasurers or tax deed. Any propery not sold at the "Resale" will be struck off to the county.
The "County Commissioners Sale" or third buying opportunity includes properties not sold at either the "tax sale" or the "resale". At the county commissioner sale "Properties are sold by the treasurer at a price approved by the county commissioners" (Sec. 68-3135).
Oregon
Sale Type: Tax Deed
Bid Method: High Bid/Lottery
Sale Date(s): Year Round
Redemption Period: None/1 Year/2 Years
State Statute(s): Volume 3
Over-the-Counter: Yes
State Website: http://oregon.gov
Bid Method: High Bid/Lottery
Sale Date(s): Year Round
Redemption Period: None/1 Year/2 Years
State Statute(s): Volume 3
Over-the-Counter: Yes
State Website: http://oregon.gov
Oregon State Overview
- Oregon has a strong GIS presence. Click here to go to a state-wide interactive map. If the state interactive map doesn't have a parcels layer for the county, it will provide a link to the county's GIS.
- Click here to read the policies governing real property tax foreclosure in Oregon.
- Tax Sale Type: Tax Deed (Sec. 29-312.270).
- Contact: (Sec. 29-311.005).
- Interest Rate and/or Penalty Rate: Not applicable.
- Bid Procedure: (Sec. 25-275.190).
- Redemption Period: Not applicable.
- Law: Oregon Revised Statutes, Title 25, Chapter 275 - "County Lands",Title 29, Chapter 311 - "Collection of Property Taxes" and Title 29, Chapter 312 - "Foreclosure of Property Tax Liens".
Pennsylvania
Sale Type: Tax Deeds
Bid Method: Public Auction
Sale Date(s): Varies by County
State Statute(s): Title 72, Taxation and Fiscal Affairs
Over-the-Counter: Yes
State Website: www.pa.gov
Bid Method: Public Auction
Sale Date(s): Varies by County
State Statute(s): Title 72, Taxation and Fiscal Affairs
Over-the-Counter: Yes
State Website: www.pa.gov
Pennsylvania State Overview
Delinquent tax foreclosure properties are typically handled by the Tax Claim Bureau department within each Pennsylvania county. The county will hold two tax sales to try and sell tax delinquent real property. First, at the Upset Sale, then at the Judicial Sale where tax liens are wiped out. If a property goes unsold at both tax sales, it will go onto the 'Repository' list and will be available during much of the year for over-the-counter purchase via mail-in offer process. Some counties will also hold a third auction; a repository sale consisting of previously unsold properties.
In Pennsylvania, the tax collector or treasurer will sell tax deeds to the winning bidders at the delinquent property tax sale. The bidder willing to pay the most wins the bidding contest.
The Upset Sale is scheduled each September and includes those parcels whose taxes, from two years earlier, remain unpaid or other specified conditions exist.
A Private Sale can occur after a property has been exposed but not sold at an Upset Sale. An interested buyer submits a written bid to the Tax Claim Bureau. The Bureau decides whether to accept the bid. If accepted, the bid is advertised in a newspaper. Any one objecting to the sale must petition the court within 45 days to disprove the sale.
A Judicial Sale is held at least once each year and can include only those properties that have been exposed but not sold at an Upset Sale. After advertisement, notice to owners and lien holders, etc., the parcels are presented free and clear of all liens.
A Repository Sale consists of properties that are exposed but not sold at a Judicial Sale. Any bid on a repository property must be approved by all taxing districts where the property is located (i.e. township borough, county, school).
Special sales and redemption provisions apply in Philadelphia, Pittsburgh, and Scranton and in Allegheny County.
Delinquent tax foreclosure properties are typically handled by the Tax Claim Bureau department within each Pennsylvania county. The county will hold two tax sales to try and sell tax delinquent real property. First, at the Upset Sale, then at the Judicial Sale where tax liens are wiped out. If a property goes unsold at both tax sales, it will go onto the 'Repository' list and will be available during much of the year for over-the-counter purchase via mail-in offer process. Some counties will also hold a third auction; a repository sale consisting of previously unsold properties.
In Pennsylvania, the tax collector or treasurer will sell tax deeds to the winning bidders at the delinquent property tax sale. The bidder willing to pay the most wins the bidding contest.
- Tax Sale Type: Tax Deed (see notes).
- Contact: County Tax Claim Bureau
- Interest Rate and/or Penalty Rate: Not applicable.
- Bid Procedure: Premium bid / highest bid.
- Redemption Period: Not applicable.
- Law: Pennsylvania "Real Estate Tax Sale Law" Act 542 of 1947, P.L. 1368; 72 P.S. 5860.101
The Upset Sale is scheduled each September and includes those parcels whose taxes, from two years earlier, remain unpaid or other specified conditions exist.
A Private Sale can occur after a property has been exposed but not sold at an Upset Sale. An interested buyer submits a written bid to the Tax Claim Bureau. The Bureau decides whether to accept the bid. If accepted, the bid is advertised in a newspaper. Any one objecting to the sale must petition the court within 45 days to disprove the sale.
A Judicial Sale is held at least once each year and can include only those properties that have been exposed but not sold at an Upset Sale. After advertisement, notice to owners and lien holders, etc., the parcels are presented free and clear of all liens.
A Repository Sale consists of properties that are exposed but not sold at a Judicial Sale. Any bid on a repository property must be approved by all taxing districts where the property is located (i.e. township borough, county, school).
Special sales and redemption provisions apply in Philadelphia, Pittsburgh, and Scranton and in Allegheny County.
South Carolina
Sale Type: Lien Certificates
Interest Rate: 3%-12%
Bid Method: Highest Bidder
Redemption Period: 12 - 18 Months
Sale Date(s): Fall
Statute Section(s): Code of Laws Of SC - Title 12, CH 51
Over-the-Counter: No
State Website: www.sc.gov
Interest Rate: 3%-12%
Bid Method: Highest Bidder
Redemption Period: 12 - 18 Months
Sale Date(s): Fall
Statute Section(s): Code of Laws Of SC - Title 12, CH 51
Over-the-Counter: No
State Website: www.sc.gov
- There are 46 County Delinquent Tax Collectors (often referred to as simply the Tax Collector) or, if there is no such office, refer to the County Treasurer.
- Note: In most Counties, the Treasurer collects only current real property taxes and the County Delinquent Tax Collector (or Tax Collector) collects only delinquent real property taxes and conducts the annual tax sales.
The homeowner has approximately one (1) year from the date the tax lien certificate was purchased to redeem. Depending on when the homeowner redeems he or she will be charged a 3% to 12% penalty. Upon the expiration of the one (1) year redemption the investor may apply for the tax deed.
Tax Sale Type: Tax Lien Certificates. (Sec. 12-51-130).
Contact: Tax Collector. (Sec. 12-51-60).
Interest Rate and/or Penalty Rate: Depending on the month of redemption 3% to 12% penalty (see "Additional Notes"). (Sec. 12-51-90).
Bid Procedure: Premium bid / highest bid. (Sec. 12-51-55).
Redemption Period: One (1) year. (Sec. 12-51-90).
Law: Code of Laws of South Carolina, Title 12, Chapter 51 - "Alternate Procedure for Collection of Property Taxes".
Additional Notes:Penalty due at Redemption: According to (Sec. 12-51-90) 'the defaulting taxpayer, ...may within twelve months from the date of the delinquent tax sale redeem each item of real estate by paying to the person officially charged with the collection of delinquent taxes, assessments, penalties, and costs, together with interest...'
According to (Sec. 12-51-90 (B)) the amount charged to redeem is based on the month during the redemption period that the property is redeemed;
- First three months (3%) percent of the bid amount
- Months four, five, and six (6%) percent of the bid amount
- Months seven, eight, and nine (9%) percent of the bid amount
- Last three months (12%) percent of the bid amount
According to (Sec. 12-51-130) upon 'failure of the defaulting taxpayer,... to redeem realty within the time period allowed for redemption, the person officially charged with the collection of delinquent taxes, within thirty days or as soon after that as possible, shall make a tax title to the purchaser or the purchaser's assignee'.