What is the interest rate?

The interest schedule is:

  • Months one, two, and three at 3%
  • Months four, five, and six at 6%
  • Months seven, eight, and nine at 9%
  • Months ten, eleven, and twelve at 12%

However, in every redemption, the amount of interest due must not exceed the amount of the bid on the property submitted on behalf of the forfeited land commission pursuant to section 12-51-55.

Show All Answers

1. Where is the tax sale held and what time does it begin?
2. When and where do you advertise for the sale?
3. Can you send me a list of the liens that will be available?
4. Do I need to register for the sale and is there a fee for this?
5. What form of payment do you accept?
6. What happens to the properties that are not sold at the auction?
7. Can I bid without attending (via mail, or a representative)?
8. Will I receive a clear title?
9. What is the interest rate?
10. What if my sale is voided?