Net tax lien auction set; face-to-face bids going, going, gone
Participants in the county’s annual tax lien auction who yearn for the good old days of paddles and gestures will be disappointed again this year, as the auction will be held online for the second year in a row.
The Mesa County Treasurer’s Office is again inviting people to bid online on the tax liens, which consist of unpaid real estate taxes, assessments, penalties, advertising costs and fees.
Purchases in a tax lien auction are an investment, and buyers earn a guaranteed 10 percent return on the collections of debt. Winning bidders purchase the tax lien, not the actual property associated with the debts.
The website where the auction will happen is live right now — www.mesataxsale.com — and people interested in bidding can register there, as well as get general information and the answers to frequently asked questions.
Bidder training webinars are scheduled for Friday, Oct. 19 and Oct. 26 at the site, which will provide a step-by-step explanation of the process.
The auction itself is open to bids starting Thursday. Auction hunters have 21 days to access relevant property information and enter their bids, and the winning bids will be determined when the auction closes at 2 p.m. Nov. 1.
County Treasurer Janice Rich said in a news release that last year’s inaugural auction online yielded double the participation from years past and was cost-neutral to the county.
While buyers are guaranteed a 10 percent return, the potential downside to investors is that if property owners don’t pay their property taxes for three years, the person who buys the certificates may receive a deed for a property he or she may not want.