The Tax Lien Sale is the final step in the effort to collect taxes on real property and mobile homes. The following information is offered to answer your questions regarding the sale. If you have any additional questions please call us at 970-328-8860.
The interest rate for the 2015 Tax Lien Sale will be set on September 1.
Tax Lien Sale Statistics Delinquent Tax List Colorado County Tax Lien Sale Dates
The 2015 Tax Lien Sale will be held Thursday, November 5 on the internet. Additional information will be posted as soon as it is available.
Advertisement of Sale
The list of taxes available to purchase at the tax lien sale is advertised for three consecutive weeks prior to the sale in the Eagle Valley Enterprise. The list will also be available on our website in late September and will be updated weekly.
Rate of Return
The interest rate offered at each year’s tax sale is nine points above the discount rate set on September 1. The interest rate you receive on your certificate will remain the same for as long as you hold the certificate.
What You Are Purchasing
You are purchasing the taxes due on property. This does not give you ownership or legal rights to the property in any way. Most people participate in the sale because the interest rates are much better than those offered in savings accounts or CDs. Less than 1% of all tax liens actually end up going to deed. Individuals wishing to obtain property may wish to contact the Public Trustee regarding foreclosure sales.
Liens not Sold at the Sale
Any taxes not sold at the sale are held by the county and are, in some cases, available to purchase through the Treasurer’s Office. These generally involve properties of low value such as unbuildable strips of land or open space.
After the Sale
Approximately two weeks later you will receive a copy of your Certificates of Purchase.
If the taxes for the following year become delinquent, you will be given the opportunity in August to endorse the taxes onto the certificates you hold. This enables you to pay the delinquent taxes and add them to your existing tax lien certificate of purchase without attending the tax lien sale. You will receive the same interest rate on the subsequent taxes as you did on the original tax sale purchase. If your certificates are eligible for endorsement, you will be notified by mail in August.
When the taxes are redeemed, you will receive a check for the amount of your certificate plus interest. The Treasurer’s Office prefers to keep all original Certificate of Purchase, however if the Certificate of Purchase is in your possession, you will need to return it to our office. Upon receipt of the Certificate, you will receive a check, which will include the amount of tax you purchased plus the interest that has accrued from the day of sale to the date of redemption. You are not refunded for any premium bids that were paid.
The redemption period is three years from the year of the original tax sale. Certificates sold in 2015 are eligible for application of a Treasurer’s Deed in 2018. It is not required that three consecutive years of taxes be due. It is only required that the original lien remain unpaid for the three year redemption period.
In January, you will receive a 1099 showing the interest you earned for the year on your Certificates of Purchase that were redeemed. We are required to report interest paid to our investors to the Internal Revenue Service on an annual basis. Please be sure to let us know if you have a change of address so that we can get your 1099 form and your redemption checks to the correct address.
State Statutes Regarding Tax Lien Sales
Copies of the Colorado State Statutes are available online or at your local library. We are unable to provide copies of the statutes at this time.
Property available for sale through foreclosure is handled by the Public Trustee. Inquiries should be made to the office of the Public Trustee at 970-328-8870.