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Missouri Tax Lien Auction Sales - (MO)

Written by: Kevin Zimmerman



The state of Missouri is considered a decent state for tax lien certificate sales. What is interesting about Missouri is that tax lien and tax deed sales are combined which introduces additional bidding possibilities and opens up the potential for owning property. Missouri also has relatively short redemption periods.

An Overview of Missouri Tax Lien Auction Sales

The interest rate for Missouri tax sales is 10% on the taxes and penalties owed on the property, after which you would bid what you are willing to pay for the property. Overbid amounts are not subject to earning any interest. Also, you only earn 8% interest on any subsequent taxes that are paid on the property. You can also potentially obtain the deed to the property because of the way in which Missouri conducts its tax sales.

The redemption period for Missouri tax lien sales is 1 year on first and second offerings, while it is 90 days on third offerings. All county tax lien certificate sales are conducted on the 4th Monday in August.

Tax deed sales in Missouri are combined with tax lien sales. However, St. Louis holds its own tax deed sales. Also, Jackson County conducts separate tax deed sales for the eastern and western halves of the county.

Missouri Tax Lien Sales Bidding Process

All tax sales held in Missouri are held via a competitive bidding process. Though in Missouri, the bidding process is somewhat unique - the bidding starts at the taxes and penalties owed on the property and you then bid what you are willing to pay for the property. However, you will only earn interest on the taxes owed. Plus, if the owner never exercises the right of redemption, it is possible to obtain the property for only the amount of taxes owed.

Because of the unique way in which Missouri handles its tax lien certificate sales, overall, it is considered a decent state for investing.

 

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