Computing Lien Interest

Hi, How is the interest computed in a Tax Lien is the property owner redeems it say in 65 days? Is it daily? Up to beginning or end of month?
Thanks for any info

Comments(3)

  • dwynkoop14th March, 2003

    You need to read the state's statutes to determine interest rates and how it is determined.

    Some are per annum, some are instantaneous.

  • Dynamic21st March, 2003

    Absolutely correct! SC charges 3% per quarter, for example, other states charge 1% per month, others charge 20% the first day after the tax bill is due!!! Indiana is 10% during the first 6 months and 15% for the second 6 months. Check the legislative laws for each state before investing...

  • BAMZ21st March, 2003

    You could call the Tax Accessors office for a payoff as of a specific date, or they might re-direct you to the circuit clerk. Hope this helps

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