Gilpin County Tax Lien Sale InformationThe 2010 Tax Lien Sale will be held on
November 16, 2011
Commissioner's Meeting Room
2nd Floor, 203 Eureka Street
Central City, CO 80427
Directions to Central City Courthouse
Delinquent List
Tax Lien Sale Information (including delinquent property tax
list and sale agenda) is available (see below) each year from mid October to the date of the
Tax Sale. Our Tax Lien Sale is conducted with the goal of fairness in
mind. Comments and suggestions are given serious consideration and have
been implemented where functional. Please feel free to contact us at
303-582-5222.
Tax
Lien Sale General Information
New Buyer Packet (5 pages)
Current Buyer Packet (3 pages)
County Employee Tax Lien Sale Regulation
Redemption of Tax
Liens
Endorsement of
Subsequent Tax Years
Treasurer's Deed
Application Information
All property (real) taxes must be collected in order to meet the
budget of all certified taxing authorities. Therefore, an annual Tax Lien
Sale is held to collect the unpaid taxes. These taxes are purchased by
investors who, in turn, earn interest on the tax liens against these properties.
The amount of the individual tax lien(s) purchased includes the amount of tax,
delinquent interest (November), advertising and certificate fee. Some
liens have special assessments that have been certified to the Treasurer.
If a redemption of the tax lien by the owner does not occur by
three years from the date of the tax lien sale, a Treasurer's Deed will be given
to the holder of the tax lien, providing the tax lien holder made application
for a deed (application will be accepted from the holder of the tax lien in
August of the third year). The deed process ranges from three to six
months. All legally interested partied are given a redemption period to
keep their interest in the property. Any and all Treasurer's deeds are
deeded on Thursdays at 10:00 a.m. A tax lien can be redeemed right up to
that time.
Tax Lien Sale Procedures
Who Can Participate?
CRS 39-11-151(1)(a)(b); No tax lien shall be conveyed or sold to
an elected or appointed county official, to a county employee, or to a member of
the immediate family of such person or to the agent of any such county official
or employee during the time the official or employee holds office or is
employed. Purchaser of a tax lien must be 21 years of age.
Personal Representative
If an interested buyer cannot attend the tax lien sale in
person, then a personal representative can be sent. The personal
representative must have the following:
A letter of authorization
A completed and signed W-9
A completed buyer's packet
For further information on requirements for a personal
representative, contact the Treasurer's Office at 302-582-5222.
Registration
Registration is from 8:00 a.m. to 9:00 a.m. the morning of the
sale. It is imperative that a W-9 form is completed and on file with our
office. Individuals will not be allowed to participate in our Tax Lien
Sale without a completed W-9.
IRS Requirements
We are required by the Internal Revenue Service to issue
1099-INT Forms to tax lien buyers. You must complete a W-9 at time of
registration or have one on file with the Gilpin County Treasurer's Office to
participate in our Tax Lien Sale.
Interest Rate
Interest rate for the 2011 Tax Lien Sale is 10%.
Buyer's Lists Of Taxes Offered For Sale
Delinquent List
The buyer's list may also be picked up any time after
approximately October 14 at the Weekly Register Call. The delinquent tax list for 2009 taxes will be published
approximately October 14, 2011 through October 28, 2011.
Order Of Sale
Tax liens will be sold in the order listed on the delinquent
list. All Tax liens are sold and must be paid for on the day of the
sale.
MRO First Right Of Refusal
CRS39-11-150; That sales of tax liens for delinquent taxes due
on severed mineral interests shall take place at the same place and time and
under the same circumstances as in this article, but where the surface estate
ownership is coterminous with the severed mineral interest, the owner of the
surface estate shall have the right of first refusal to purchase the tax lien on
the severed mineral interest, and the surface owner shall be allowed to pay all
delinquent taxes due and owing for the severed mineral interest in lieu of the
proceeds that would be collected from a tax sale of a tax lien on the severed
mineral interest. The Treasurer shall notify the surface owner, by mail,
at his last-known address, of his right of refusal at least ten days prior to
the sale of a tax lien on the severed mineral interest. The surface owner
shall have until two days prior to the sale to exercise the right of first
refusal. If the surface owner does not exercise his right of first
refusal, the tax lien on such severed mineral interest shall be sold. No
action for the recovery of a severed mineral interest for which a tax deed was
issued under the provisions of this article shall lie unless brought within the
same time period as that limiting actions for the recovery of land pursuant to
section 39-12-101.
Auction Style Bidding
Each buyer is assigned a bidder card with a buyer number.
The Treasurer counts the cards in dollar increments until there is only one card
remaining. It is then announced as SOLD, with the buyer's number and the
amount it was purchased for.
Premium Bids
Premium bids are those in excess of the advertised dollar
amount. Increments are assessed as follows:
On parcels listed for under $500, the starting bid is the stated
amount on the delinquent tax sale list with increments of at least $1;
On parcels between $501 up to $999,
increments of $5;
On parcels between $1,000 up to $4,999, increments of $10;
On parcels $5,000 and higher, increments of $50.
ALL premium bids are made at INVESTOR'S EXPENSE and
ABSOLUTELY NO INTEREST IS EARNED on them, nor is this amount refunded when the
property is redeemed.
End Of Sale
Purchases MUST be paid BEFORE leaving the
premises. FAILURE TO DO SO WILL RESULT IN LOSS OF LIENS PURCHASED!
Cash or Certified Funds will be required of
first-time buyers at
the Tax Lien Sale. Personal checks will be accepted from prior buyers.
Verify account expenditure with the account balance clerk
located in the Treasurer's Office at the registration counter. Your bidder card
MUST be dropped off at check out. Make checks payable to Gilpin County
Treasurer. Checks must be made for the exact amount of purchase. If
your check is returned for insufficient funds, it will result in the loss of
liens purchased. No contact will be made with the lien holder.
Account Balances
Anyone requesting account balance information during the sale
can receive an update from the account balance clerk located in the Treasurer's
Office.
Tax Lien Certificates Of Purchase
All Tax Lien Sale Certificates of Purchase will be held in safekeeping in the
Gilpin County Treasurer's vault. A receipt of purchases will be given to
you at the time of sale. A copy of the Tax Lien Sale Certificate of
Purchase will be mailed to you.
Element Of Risk
Though the Treasurer's Office makes significant effort to be
aware of potential problem liens and withhold them from sale, BE AWARE THAT
ULTIMATELY THE SALE IS A BUYER BEWARE SALE. It is important to remember
there is an element of risk involved in the purchase of tax liens. For
instance, the purchase of tax liens of properties under the control of the
Federal Deposit Insurance Corporation (FDIC)
and those affected by the Drug Enforcement Administration (DEA) could possibly
result in the loss of interest. This office does not identify such
potential problems. You must conduct your own investigation into title
matters, as well as the location and condition of the property. NO
WARRANTIES OF ANY KIND WHATSOEVER ARE MADE BY THE TREASURER.
If you have questions regarding
title issues, you should consult with legal counsel. The Treasurer does
not and cannot provide legal advice.
For further information on Tax Lien Sales, contact the
Treasurer's Office at 303-582-5222.
