Citizens Service Center, 1675 W. Garden of the Gods Road, 1st Floor Rm 1017Colorado Springs, CO 80907
To participate in the automatic rotation selling, except as stated above for electronic fund transfers, deposits must be received prior to 11 a.m. the day of the automatic rotation selling. Once the automatic rotation selling begins no deposits will be allowed until that process is completed. Deposits for open bidding will again be accepted after the conclusion of the automatic rotation selling.
Transfers of deposits or purchases from one account to another will not be permitted during or immediately following the sale.
All unexpended funds will be refunded as quickly as possible once the sale has concluded.
Only one bidder card will be issued per buyer. Each buyer must be registered and have funds on deposit to participate in the sale. Each buyer participating in the open bidding categories must pick up his/her own bidder card on tax sale day. The Treasurer reserves the right to limit buyer numbers issued to any individual or agent. Each buyer is required to complete an Internal Revenue Service form W-9 with name, address, and social security number or federal tax identification number; a buyer registration form; and an automatic rotation selling authorization form. See forms below. Bidder numbers for new buyers will be assigned only after the completed forms are submitted with a deposit. Bidder cards are issued on the day of the open bidding sale. If the buyer does not desire to participate in the automatic rotation selling, written notice must be given at the time deposit is made.
Each parcel will be offered in compliance with Title 39, Article 11, of the Colorado Revised Statutes. To facilitate the sale procedure, parcels which are contiguous or contained within one subdivision may be combined and sold as a group.
The base (minimum) amount for each tax lien is comprised of the unpaid ad valorem tax, special assessments, late payment interest, collection fees, advertising cost, and other fees.
The tax liens will be separated into categories to facilitate the sale.
All sales are final.
Automatic Rotation Selling - Category Two-will contain the liens for a single property or multiple properties where the total amount of the lien is greater than $100.00 and less than or equal to $2,000.00.
Buyers cannot be present for the automatic rotation selling. Category Two liens are sold in reference number order to Buyers in bidder number order. If the amount of the lien exceeds the available balance a Buyer has on deposit their bidder number will be skipped. Once a buyer's deposit amount is expended their bidder number will no longer be considered. The number of liens sold to a Buyer in this category is dependent on the number of liens in the category, the number of Buyers participating in the category, and the amount of the Buyer's deposit. If buyers do not want to participate in the automatic rotation selling they must so state in writing at the time their deposit is made. Reports which list the liens sold to each buyer will be available after 3 pm. Any reports not picked up at the conclusion of the sale will be mailed out.
Open Bidding -
Category One - will contain the liens where the total amount of the lien is less than or equal to $100.00.
Make sure you know what you are bidding on. All sales are final.
In the open bidding categories it is the Buyer's responsibility to monitor their purchases to avoid overspending.
These liens will be offered for general (open) bidding and will be sold to the buyer who pays the largest bonus (premium) bid in excess of the minimum amount. Bonus bids are not returned or recovered when a tax lien is redeemed.
The sale process is subject to change depending on the number of tax liens available.
Minimum bids and bid increase increments are as follows:
Categories 1 and 4 will not be less than $1.00 and will increase in increments of whole dollars.
Category 3 will start at $20.00 and increase in increments of whole dollars.
A tax lien sale certificate of purchase will be issued for each property and will be in the statutory form stating the property description, purchase amount, rate of interest, buyer name as shown on the registration, and the date of sale. Certificates are assignable; however, no assignments will be permitted until 10 business days after the sale. If delinquent taxes occur in the future, the certificate holder may endorse (sub-tax) the amount of delinquent taxes and lawful charges onto his/her certificate until redemption.
The certificate holder has the right to pay (endorse) subsequent year's taxes and lawful charges once they become officially delinquent. If a certificate holder chooses to endorse, the amount will be added to the existing tax lien. Endorsement information will be mailed to all eligible certificate holders in early July.
If the lien remains unredeemed (not cured) the certificate holder may apply for a tax deed. The procedural requirements normally take nine to twelve months to accomplish. An extension of the time period may occur when there are complex problems related to the property. Deed applications may be made four calendar months prior to the third anniversary date of the certificate. The deed application fee is currently $400.00. The deed application processing costs are recoverable if the property is redeemed; however, no redemption interest is earned on deed expenses. Prior to receiving a Treasurer's tax deed, all subsequent taxes, special assessment liens, and current taxes must be paid. El Paso County makes no guarantee for the condition or marketability of any property which is acquired through a Treasurer's tax deed.
WRONGFULLY SOLD LIEN - If a lien is wrongfully sold and the County must pay the certificate holder the redemption interest, the rate will be calculated as set forth in Section 39-12-111, Colorado Revised Statutes.
The list of unpaid 2016 taxes payable in 2017 was published in the El Paso County & Fountain Valley Advertiser & News on September 20, September 27, and October 4. The publication dates for the 2017 taxes payable in 2018 will be announced at a later date.
Inquiries may be directed to:
El Paso County Treasurer P.O. Box 2018 Colorado Springs, CO 80901-2007 Telephone (719) 520-7900 E-mail: email@example.com Web Site: http://trs.elpasoco.com