Property Tax Liens In Massachusetts
Property Tax Liens In Massachusetts are primarily conducted at the municipal level instead of the county level.
The municipalities take ownership of the delinquent property and then sell it later at auction.
You will receive a “collector’s deed” that allows the property owner a six month “right of redemption”.
If that redemption period expires without the owner paying the back taxes you may petition the “Land Court” for the foreclosure of all rights of redemption and obtain a clear title.
The interest in Massachusetts is 14% – 16%.
The Commissioner of Revenue in Massachusetts is responsible state wide for property tax administration. The Division of Local Services Bureau of Local Assessment is in charge of assessments. with property tax sale questions.
These sales are referred to as “taking” sales. Some of the small towns do not have any tax sales at all; delinquent tax properties are taken and held by the municipality.
In order to find tax sales, you’ll have to go to the larger municipalities but all towns in Maryland have procedures to collect delinquent property taxes.
Massachusetts generally has three categories for tax sales. A tax foreclosure is one. These are properties where the municipality actually has taken title to the property and have offered them for sale.
A tax collector’s deed sale is another one. These liens are offered for sale but the municipality has not taken title to the property.
A third one is a tax lien assignment sale. You will need to determine which municipality you are interested in and learn these different types of sales and their local procedures.
Many Maryland counties and municipalities now have much of their information online. In addition, many of them also post their actual tax sales lists on their websites.
As budgets for the smaller municipalities get tight, you may see opportunities to purchase Maryland tax liens with little competition from the major players.