What transpires when there is over bid proceeds after the issuing of a tax deed and/or bill of sale? Can I claim the overage?
When the amount of the bid exceeds the amount of taxes, penalties, interest, cost and current years taxes, the Tax Collector maintains the overage in an escrow account. When conveyed to the high bidder, the owner of record before the end of the redemption period is entitled to the funds held in escrow. The owner can claim those funds by submitting a “Claim by Defaulting Taxpayer for Over Bid Proceeds”. This form is available in the Tax Collectors Office. One must submit all claims must within five years of the day of the tax sale. If unclaimed after five years, the funds revert to the county. TAX SALE BIDDERS GENERAL INFORMATION SHEET 1. Bidding will start at the combined amount of delinquent and current taxes due (rounded off) and proceed in no less than twenty-five $25.00) increments. Example: if Taxes = $73.00, 1st bid $100, 2nd bid $125, 3rd bid $200 2. Bidders must register and obtain a bidder number in order to bid. No bid will be accepted without a bidder number. 3. Any Bidder d
When the amount of the bid exceeds the amount of taxes, penalties, interest, cost and current years taxes, the Tax Collector maintains the overage in an escrow account. When conveyed to the high bidder, the owner of record before the end of the redemption period is entitled to the funds held in escrow. The owner can claim those funds by submitting a “Claim by Defaulting Taxpayer for Over Bid Proceeds”. This form is available in the Tax Collectors Office. One must submit all claims must within five years of the day of the tax sale. If unclaimed after five years, the funds revert to the county. TAX SALE BIDDERS GENERAL INFORMATION SHEET Bidders General Information Sheet and Form 1. Bidding will start at the combined amount of delinquent and current taxes due (rounded off) and proceed in no less than twenty-five $25.00) increments. Example: if Taxes = $73.00, 1st bid $100, 2nd bid $125, 3rd bid $200 2. Bidders must register and obtain a bidder number in order to bid. No bid will be accept
Related Questions
- HOW DO I CALCULATE THE AMOUNT OF INPUT TAX WHICH I CAN CLAIM AS A CREDIT IF I AM A MANUFACTURER AND MAKE SALE OF TAXABLE GOODS AND SALE OF EXEMPT GOODS BY USING COMMON INPUTS?
- What transpires when there is over bid proceeds after the issuing of a tax deed and/or bill of sale? Can I claim the overage?
- Is there a deposit required to bid on property at a tax deed sale?
