Property Tax Liens In Nebraska
Nebraska is a lien state.
The interest rate is 14% per annum and the redemption period is 3 years. Nebraska uses the “bid down the percent ownership” method of bidding.
Since this system does not work very well and is not popular with bidders or counties, most counties use a “round robin” selection system of awarding bids.
The following information is from the Douglas County Treasurer’s website: “Investors agree to buy the liens for the delinquent tax amount including interest and advertising fees.
Each lien is offered to each participant, one by one.
f a participant decides to purchase a lien on a property, the following lien is offered to the next investor in line.
If an investor passes up a lien, they forfeit that bid. The lien is offered to the next investor in line.
Once the 3-year redemption period has passed you must begin foreclosure proceedings within 6 months. Failure to start foreclosure within 3 years and 6 months will result in cancellation of the sale.
Tax sale information along with detailed tax sale lists and assessment data can be found online for some Nebraska counties