Any Experience At District Of Columbia Tax Lien Auction?
New to the forum... does anyone have any experience in the Washington DC tax lien auction? The attendance etc? Any good or bad experiences? Thanks for your comments in advance!
Tax Sales Certificates are first sold in the District of Columbia. The purchaser of a tax certificate receives 1% per month interest on his investment provided he does not bid in excess of the total amount of taxes and costs due
The Office of Tax and Revenue (OTR) holds a public auction each July to sell real property tax liens - both commercial and residential - for which property taxes were unpaid during the previous tax year. Property owners have until the date of this Tax Sale to pay their taxes in full, including penalties and interest, to prevent their property from being auctioned.
Tou can download more information at http://cfo.dc.gov/otr/frames.asp?doc=/otr/lib/otr/tax/news/Tax_Sale_Workbook_2004.pdf&group=1679&open=|33280|33288|
This year over 9,000 properties were auctioned, representing $55 million in commercial and residential real property tax liens for which property taxes were in arrears on October 1.