Doors will open at 8:00AM for registration.
Each bidder must complete a registration form prior to the start of the sale.
Registration information will be used for Certificate issuance.
Sale commences at 9:00AM with instructions.
Bidding will be by number.
Settlement will take place as noted below.
Only one bidder number will be allowed for each Social Security Number or Federal Tax Identification Number.
No one will be admitted to the “Round-Robin” sale after the commencement of the sale.
If you plan on coming to the tax lien sale, please register prior to the sale. This will assist in starting the sale promptly.
Do not bring children or animals. We do not have facilities for their comfort.
YOU ARE NOT BUYING PROPERTY!
Successful purchasers will receive a tax lien Certificate of Purchase on tax liens they have purchased. The certificate represents a lien on the property. The owner of the property has the right to redeem the property tax lien at any time prior to the issuance of a Treasurer's Deed on the property. (Normally a minimum of 3 years after the sale.)
PROHIBITED BIDDERS
No County official, employee, immediate family member, or person acting as agent of same may participate in the tax lien sale. Bidders will sign "Non-Employee Certification" as part of the registration form.
No person under the age of 18 may bid or purchase at this sale.
CERTIFICATE INTEREST RATE
The statutory certificate rate is established September 1st. The annual rate of interest shall be 9 percentage points above the discount rate, which discount rate shall be the rate of interest a commercial bank pays to the Federal Reserve Bank of Kansas City using a government bond or other eligible paper as security, and shall be rounded to the nearest full percent. The commissioner of banking shall establish the annual rate of interest based upon the computation specified immediately above.
Interest paid on redeemed certificates will be reported annually to the Internal Revenue Service.
There will be a break.
Then, all liens over the “certain” amount, plus any vested interests, mining claims and other small dollar liens will be sold by Premium Open Auction.
Special assessment liens will be combined with property tax liens and sold as a single certificate.
Bidders may participate in one or both parts of the sale.
MINIMUM BIDS
Sale of the tax liens will be for the amount advertised, including the $4.00 certificate fee. Premiums are those amounts in excess of the minimum dollar amount.
PREMIUM BIDS
The initial premium bid amount will be approximately 5% of the lien. Increment amounts will be a minimum of $10.00. Deviation will be at the description of the Treasurers office. REMEMBER that you will NOT receive the premium back at time of redemption. NO redemption interest is paid on the premium.
SETTLEMENT
Initial deposits are not required for this sale. Settlements are encouraged by bidders leaving a signed blank check made out to "SUMMIT COUNTY TREASURER" with the treasurer's office personnel for settlement instead of having to go to the treasurer's office.
Those wanting to come to the treasurer's office for settlement may do so after 2 o'clock in the afternoon of the sale day at the Office of the County Treasurer, 208 Lincoln Avenue, Breckenridge, Colorado 80424.
Settlement must be completed by 3:30PM on the day of the sale.
All settlement monies must be good funds.
No credit card payments will be accepted.
Successful bidders will receive a report of their purchases.
IF a purchaser fails to pay the amount due on sale day, the purchases will be canceled and re-sold. Non-sufficient funds or other returned funds from bidders bank in payment of purchases will cause all purchases to be canceled and re-sold.
Payments must be made in the name of the buyer.
CERTIFICATES OF PURCHASE
Certificates of purchase will be issued to the purchaser as noted on the registration form. The Summit County Treasurer will hold all certificates in the Treasure's vault and send a safekeeping receipt and status report.
REDEMPTIONS
At the time of redemption, the Treasurer will send payment to the certificate holder. If you would like to receive payment electronically please see page 2 of the registration form.
SUBSEQUENT PROPERTY TAXES
Notices for subsequent year's property taxes will be sent to holders of unredeemed certificates. Certificate holders are expected to pay subsequent years property taxes. The amount due and paid will be endorsed on their certificate. Subsequent year property tax notices will be mailed in July or August of each year to certificate holders.
TREASURER'S DEED
Three years after the DATE OF SALE, the holder of an unredeemed Certificate of Purchase may apply for a Treasurer's Deed to the property. Additional information on the Treasurer's Deed process may be obtained from the Treasurer's Office.
SPECIAL NOTES
The Summit County Treasurer has attempted to withhold from sale those tax liens as to which the automatic stay provisions of the Bankruptcy Code apply. However, bidders should undertake their own investigation of the status of the liens offered for sale and obtain their own analysis of the applicability of Federal law.
Upon determination that tax liens were sold for property subject to exemption or bankruptcy, the certificates will be redeemed as "SOLD IN ERROR" with penalty interest at the rate of 2 percentage points above the discount rate, which discount rate shall be the rate of interest at the Federal Reserve Bank of Kansas City.
PRE-REGISTER
If you wish to attend the annual sale, you can save registration time by returning your registration form prior to sale day.
Please pre-register if you believe that you will attend the sale. This will save everybody time in getting the sale started timely.
Thank you for your interest and participation in the Tax Lien Sale
From Denver drive I-70 West to exit #203 – Frisco. Go South on Highway 9 through Frisco. At the first traffic light beyond Main Street and Highway 9, turn right into the County Commons complex. The Community & Senior Center is on your left. Drive beyond the building on Peak 1 Boulevard to the first driveway on your left. Parking is available in front of the building. (see map)