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 2012 Tax Lien Sale is 10%.
Tax Lien Sale Statistics Delinquent Tax List Colorado County Tax Lien Sale Dates
** PLEASE NOTE THAT THE 2012 TAX LIEN SALE HAS BEEN CHANGED TO NOVEMBER 8 (It was originally November 7) **
Date and Time
Tax lien sales take place each Fall. The tax lien sale for 2012 is scheduled for November 8 at 9 a.m. Registration begins at 8 a.m. in the Treasurer's Office on the first floor.
Location Eagle County Building, 500 Broadway, Eagle CO. Registration will take place beginning at 8 a.m. on the main floor in the Treasurer’s Office. The tax lien sale will take place on the third floor in the Eagle County Board Room.
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.
On the morning of the sale, you will need to fill out paperwork indicating the precise name in which the certificate is to be issued, the mailing address and phone number for our records. We will also need you to fill out a W-9 form for tax purposes; giving us the Social Security number of the individual investor or the Employer Identification number of corporations or companies purchasing tax liens. All information must be complete for you to participate in the sale. Only one bidder number will be issued per Social Security number/employer identification number.
Pre-registration: If you would like to register in advance, you can complete and sign the attached registration form and W-9 form; then scan and email the forms to us at email@example.com, fax them to 970-328-8879, or mail them to the address on the registration form. Please note that if you are registering in advance, you still need to arrive early to pickup your bidder number in the Treasurer's Office and get a seat in the room. Registering in advance does not guarantee you a seat in the room.
The Bidding Process You must be present to participate in the bidding process. Eagle County holds a round robin sale with premium bids accepted on tax amounts $7,500 and over. Remember, premium bids will not be refunded to you at the time the taxes are redeemed.
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. The certificate rate for the 2011 certificates being sold at the 2012 tax lien sale is 10%.
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
You will need to go to the Treasurer’s Office to pay for your purchases. Personal checks, cash, cashier’s check and certified checks are accepted. All payments must be made payable to Eagle County Treasurer, two-party checks will not be accepted. All funds are deposited that afternoon, so be sure you have appropriate funds in your account to cover your check. We will print out a receipt showing you the account numbers you purchased, and how much you paid for them. 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 or notification. The Treasurer’s Office prefers to keep all original Certificate of Purchases, 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 2011 are eligible for application of a Treasurer’s Deed in 2014. 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.