Oklahoma sells both tax lien and deed certificates. It has a redemption period of two years with an interest rate of 8%. Just like most states, sales are done through competitive bidding.
New Jersey Tax Liens
ew Jersey’s tax lien auction schedules actually vary, depending much on each municipality. The redemption period is 2 years and its interest rate is 18% or more, dependent on the penalties. It also follows competitive bidding and will start by having the participant bid the interest rate down.
Nebraska Tax Liens
In Nebraska, the interest rate is 14% and the redemption period is 3 years. All counties have their tax lien certificate sales in March. They also have it through competitive bidding and bidders can even send their bids before the sale through mail. Also, interested buyers can ask for unsold tax lien certificates which can be bought throughout the year over the counter.
Montana Tax Liens
Montana’s interest rate is 10% and a redemption period of 2 to 3 years. Commercial properties have shorter redemption periods though. The tax lien auctions are every July and are through competitive bidding.
Missouri Tax Liens
In Missouri, the interest rate would be 10% on the penalties and taxes owed where a bidder can bid more based on how much you would pay for the actual property. However, the winner will not receive any interest on the overbid. Note that taxes paid will get someone to earn around 6% rather than 10%.
Mississippi Tax Liens
Interest rate in Mississippi is definitely a favorable 18% with a redemption period of 2 years. Tax lien sales are held on the last Monday of August. Though it also uses competitive bidding, the overbid’s amount will not be reimbursed and the interest will not be earned on its overbid amount.
Maryland Tax Liens
Maryland has an interest rate of 6% to 24% and varies on each county. The redemption period could be 6 months up to 2 years as each of the counties have varied rules. Competitive bidding is also used in tax lien certificate auctions.
Louisiana Tax Liens
Louisiana is considered one of the best states to invest in tax lien certificates. Its interest rate is 12% plus a penalty of 5% which totals into 17%. The redemption period is 3 years and the tax lien auctions are dependent on Parish. The sales are through competitive bidding based on interest rate.
Kentucky Tax Liens
The interest rate in Kentucky is 12% while the redemption period is 1 year. The tax lien sale schedules may vary depending on the county itself but all the sales are won by competitive bidding on the interest rate.
Iowa Tax Liens
One of the most popular tax lien states is Iowa. Its interest rate per year is 24% and its redemption period is 1.75 years. The tax lien sales are held in June and all its auctions are through round robin bidding. The bidder can also opt to bid on how much percentage he can take on the property.
