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Treasurer
Tax Lien sale

Real property and mobile home delinquent taxes are enforced through the annual tax lien sale.

Date, Time,
Location

 

 

 

 

 

 

The sale of El Paso County's unpaid real estate taxes and special assessment liens for 2013 payable in 2014 will be held on October 21 & 22, 2014.   The location of the 2014 sale will be:  

Citizens Service Center,
1675 W. Garden of the Gods Road,  1st
 Floor Rm 1017
Colorado Springs, CO 80907

The Automatic Rotation Selling portion of the tax sale will be held on October 21, 2014 at 1:00 p.m.

The Open Bidding portion of the tax sale wwill be held on October 22, 2014 at 8:30 a.m.

Deposits 

 

 

 

 

 

 

 

Refunds

All bids must be covered by cash or certified funds made payable to the El Paso County Treasurer.  PERSONAL CHECKS WILL NOT BE ACCEPTED.  Electronic fund transfers (wires) will be accepted for deposits over $10,000.00.  Wires must be received in our office two (2) business days before the tax sale. Early deposits are encouraged.  Buyer deposits may be mailed to, or made in the Office of the County Treasurer, 1675 Garden of the Gods Road, Suite 2100, Colorado Springs, Colorado 80907.  Buyers must indicate in writing whether they DO or DO NOT desire to participate in the automatic rotation selling at the time their deposit is made. See "Required Forms" in the "Buyer Information" section.  Buyers do not need to be present to participate in the automatic rotation selling.  See "Buyer Information" for additional procedures. 

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.

Seating

Seating for the open bidding portion of the tax sale is limited and reserved for registered buyers.  We ask that observers move to the back of the room or outer corridor. Children younger than 16 years old are discouraged from attending.  

Buyer Information

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. 

Required forms:

  • IRS Form W-9
  • Buyer Registration Form
  • Automatic Rotation Selling Authorization Form
  • Buyers who have purchased tax liens at prior sales do not need to register again.  Your deposit and Automatic Rotation Selling Authorization form are all that are needed.  Any changes to existing buyer information must be provided annually.  Buyers are responsible to assure that the information on their registration is correct and current. Tax lien sale certificates, refund checks, redemption checks, and 1099 interest forms are prepared from this information.

Disclaimer 

It is the buyers' responsibility to know the quality of the property on which they are paying the taxes and receiving a lien. Buyers must rely entirely on their own information, judgment, and inspection of the property records.

Sale
Procedures 

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. 

  • Category Three - will contain the liens for a single property or multiple properties where the total lien is greater than $2,000.00.
  • Category Four - will contain the liens for properties with alert information. The alert information is a good faith effort to share known information with prospective tax lien sale buyers. It is not all inclusive. The Treasurer and the County are unable to warrant the alert information or lack of alert information. The tax lien sale buyer participates at his or her own risk.

    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.

 

Bonus Bids 

Minimum bids and bid increase increments are as follows:

Categories 1 and 4 will not be less than $1.00 and after reaching $5.00 will be increased by increments of $5.00 to $20.00. After reaching a bonus bid of $20.00, the amount will be increased by increments of $20.00.

Category 3 will start at $20.00 and increase in increments of $20.00.

Record of
Purchase

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 the amount of delinquent taxes and lawful charges onto his/her certificate until redemption.

Redemption
Interest

Interest begins to accrue from the month the certificate is issued. The interest earned is calculated based on the interest rate and the number of months up to and including the month of redemption. There is no compounding. The interest rate for tax liens sold in 2014 will be announced at a later date. 

Prohibited
Buyers

El Paso County officials or employees or their immediate family or agents may not participate in the purchase of liens. 

General
Information

It must be understood that the sale and purchase of the tax or special assessment lien at a tax lien sale does not, as it might under simple sales and purchase agreements, convey the right of possession, use, improvement, or access to the property. The buyer is issued a tax lien sale certificate of purchase on which he/she is entitled to interest. The lien may be redeemed by the property owner, any person having a legal or equitable claim or by the agent of either party at any time prior to the issuance of a Treasurer's tax deed. A Treasurer's tax deed cannot be issued prior to the third anniversary of the tax lien.

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.

Publication
Information 

The list of unpaid 2013 taxes will be published in the El Paso County & Fountain Valley Advertiser & News.  The publication dates will be September 24, 2014, October 1, 2014 and October 8, 2014. 

El Paso County News

120 Ohio Ave.
Fountain, CO 80817
719-382-5611

 

Contact
Information

Inquiries may be directed to:

El Paso County Treasurer
P.O. Box 2007
Colorado Springs, CO 80901-2007 Telephone (719) 520-7900
E-mail: trsweb@elpasoco.com Web Site:
http://trs.elpasoco.com