Help In Indiana
Can anyone offer some help on where I might be able to find the interest rates for Indiana? I have looked in Marion County (Indy) and they are only 10%. I have read the interest goes as high as 25%, but want to avoid making blind calls to a bunch of county offices. Any assistance is greatly appreciated. Dave
The interest rate in IN is set by State law. If a owner redeems in the first 6 months after you buy the lien he pays a flat 10% interest (110% of the tax bill you paid) if he redeems from 6 months to 1 year he pay a flat 15% (115% of taxes paid). If you bid a premium he pays you simple daily interest on that amount for the time you held the lien.
Thanks, Michael. Any experience buying tax liens in Indiana? Any tips?
I am a newbie and unfortunately missed most all of the sales which happen in October and early November.
I too am very interested in TLCs in Indiana. The rates are very good I think and Indiana pays a premium rate for any overbid amount.
I will be keeping a close eye on the SRI website for investing in "05".
What is the SRI website?
SRI is a company that administers tax sales for most of the counties in indiana. The web-address is "www.SRI-taxsale.com" .
They provide dates of taxsales and a spreadsheet with all the information for properties in a given county that will be available. There is a ton of information in these spreadsheets. I think it'll save a lot of time.