Property Tax Liens In Alaska
I refer to Property Tax Liens In Alaska, but in fact, Alaska is a tax deed state.
Alaska does not have “counties” as 48 of the other states do (Louisiana has parishes). Alaska has The state of Alaska has 29 organized “boroughs” geographical census areas.
Sometimes the borough is responsible for the collection of taxes and sometimes the municipal tax collector has that responsibility.
Alaska can be a bit confusing at first glance.
When the property taxes are not paid, the local government will file for foreclosure. This turns title to the property over to the local government.
The owner can redeem the property during a 1-year redemption period.
If the owner does not redeem the property, it is then possibly retained by the municipality.
If not retained for public use, then a “tax deed” to the property is sold.
These sales are conducted by sealed bid. Any unsold properties from this sealed bid process are then available for purchase by anybody as the appraised value.
Different boroughs and municipalities use various real estate services or land management offices to conduct their sales.
There is information available online for some Alaska municipalities and boroughs. To find information about tax sales online, first go to the borough website.
Land sales are conducted by a sealed bid process. Unsold properties are then made available for over the counter bids.
In certain cases, the municipality may finance your purchase. In other cases, you may be eligible for tax incentives if you plan on developing or improving the property.
Property not sold at sealed bid are sold first come, first served. .
The process in Alaska generally only allows you to purchase property at an appraised value. An appraised value which you will be paying to receive.
You may have to give a non-refundable earnest money deposit. In addition, you will go through a real estate closing and credit approval. For all that trouble, you will get a warranty deed and thus clear title to the property.
You will receive the property “as-is,” however and no warranty is given as to the quality of the property you are purchasing.
Purchasing tax deeds in Alaska may be done by mail. You may also be able to obtain financing from the borough or municipality for your purchase.
Study the Alaska state laws, then contact the local boroughs and municipalities for current properties for sale and the latest information.