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How is the minimum bid price on a property determined?

April 26, 2017bid minimum price Property

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How is the minimum bid price on a property determined?

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State law dictates that the minimum price offered at public tax sale shall be no less than the total amount necessary to redeem, plus costs. The minimum bid on a parcel can be set at a greater amount to assure collection of the amount of delinquent taxes, penalties and costs thereon.