Property Tax Liens In Missouri
Property Tax Liens In Missouri. Missouri is a lien state.
The interest rate is 10% with only 8% paid on subsequent tax payments. The redemption period is 1 year and the highest premium bid wins the lien.
In order to bid at a tax sale in Missouri, you must be a resident of the county.
The minimum bid amount consists of the amount of taxes due, penalties and sales costs.
Purchasers must sign an affidavit stating that they are not delinquent on any property tax payments.
Failure to sign such affidavit, as well as signing a false affidavit, may invalidate the property purchase. The purchase price must be paid at the close of the sale with an acceptable form of payment.
Boone County does accept some credit cards; however, they will charge an extra fee if you use one of these cards.
For MasterCard and Visa, the fee is 3.5% of the purchase price. For Discover, the fee depends on the amount charged. If you do not pay when expected for a lien that you were successful bidding on, you may be charged a penalty of 25% of the bid amount along with prosecuting attorney fees.
The tax collector will issue a “certificate of purchase” which is retained for 1 year or until the property is redeemed. The purchaser may assign ownership of the certificate of purchase to someone else, but only if they are a resident of Missouri and do not owe any delinquent taxes.
If the property has not been redeemed during the 1-year redemption period, the holder of the certificate of purchase may apply for and receive a collector’s deed to the property.
The purchaser will need to provide an affidavit to the tax collector verifying that proper notification was made and that a title search was done on the property.
Any other liens, except for federal liens, are extinguished once a collector’s deed is issued. It is not easy to find tax sale information for Missouri counties online.
You will be able to find tax assessment data and contact information for some of the larger counties. The “delinquent tax certificate sale” is the responsibility of the collector of revenue, sometimes referred to simply as the collector.