Bidding Rules
La Plata County Colorado
Bidding Rules for Annual Public Auction of Delinquent Real Estate Taxes
2023 Tax Lien Sale (For Tax Year 2022 and priors)
SUMMARY OF IMPORTANT INFORMATION
SALE
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The web site will open for research and deposits beginning 09/27/2023. Formal Bidding and modification of bids begins 09/27/2023 at 8:00 AM MT and can be done up until the auction closes on 11/02/2023 at 12:00 PM MT. More detailed instructions can be found on the FAQ (Frequently Asked Questions) page of this web site and the SUMMARY OF IMPORTANT INFORMATION below.
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A 10% deposit of your total intended winnings will be required via ACH transfer. Deposits must be completed by 10/27/2023 at 2:00 PM MT.
- Each Buyer will be required to register online to participate. Buyers are responsible to assure that their information is correct as IRS W-9 forms, tax lien certificates, refunds and redemptions are prepared from this information.
BIDDING
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Employees and officials of La Plata County, members of their immediate families or their agents may not acquire a tax lien at the La Plata County Tax Lien Sale per C.R.S. 39-11-151.
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The minimum starting bid for each tax lien certificate is equal to the amount of the unpaid taxes, interest, penalties and fees.
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Bid increments shall be One dollar ($1.00).
- Premiums on winning bids are a cost of securing the tax lien and are not returned nor do they draw interest.
PAYMENT
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Each winning bidder shall make a payment of funds sufficient to cover the total amount of the bidder’s winning bids by ACH on the Auction Website no later than Friday, November 3rd, 2023, at 2:00 PM (MT).
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If a winning bidder fails to make such payment by this time, the Treasurer may, in the Treasurer’s sole discretion, award the tax certificates to another bidder or may offer the tax lien for sale in accordance with C.R.S. 39-11-116.
- If a winning bidder fails to pay the amount due from bidding on sales, the Treasurer may prohibit a person from participating in future sales up to five years [C.R.S. 39-11-116].
TERMS
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It is the Buyers’ responsibility to know the quality of the property on which they are paying the taxes and receiving a lien.
- At the close of the auction, all successful bids are final. No changes in, or cancellation of, liens purchased can be made after the lien is sold.
INTEREST
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Premiums do not draw interest.
- When redeemed, your certificate will pay nine points over the Federal Reserve Discount Rate as of September 1st. Certificates will earn 12% for the current year’s sale, except for erroneous sales which will receive two points above the Discount Rate but no lower than 8%.
TAX LIEN
- You do not have ownership rights to the property, only a property tax lien.
SUBSEQUENT TAXES
- If the owner does not pay future taxes before July 1st each year, you will be notified of the amount due and you may pay them if you wish. Your payment will be endorsed onto your lien and will accrue interest at the same rate as your certificate.
TREASURER’S DEED
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The majority of properties are redeemed.
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A Treasurer’s Deed may be applied for three years after the date of the sale if the tax lien remains unredeemed. A deposit is required to cover expenses.
- Tax liens expire and are cancelled after 15 years.
SUMMARY OF IMPORTANT DATES AND INFORMATION
| Bidder Accounts | |||
| Allow foreign bidder registrations | No | ||
| Single simultaneous bidder rule | No | ||
| Auction Information | |||
| Bidding style | Proxy Bid Auction | ||
| 0 value bids use proxy system | No | ||
| SubAccounts | |||
| Allow sub-accounts | No | ||
| Automatic certificate rollup / rollup fee | --- | --- | |
| Auction Dates and Times | |||
| Registration begins (site opens)** | 09/27/2023 at 8:00 AM MT | ||
| Deposits, Registration fees and Budgets begin | 09/27/2023 at 8:00 AM MT | ||
| Bidding begins | 09/27/2023 at 8:00 AM MT | ||
| Deposits, Registration fees and Budgets end | 10/27/2023 at 2:00 PM MT | ||
| Participation Requirements |
Submit a deposit
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| Participation Requirements Due Date | 10/27/2023 at 2:00 PM MT | ||
| Registrations end | 10/27/2023 at 2:00 PM MT | ||
| First batch closes | 11/02/2023 at 12:00 PM MT | ||
| Batch closing interval | One Batch Only | ||
| Last batch closes | 11/02/2023 at 12:00 PM MT | ||
| Auxiliary batch opens | 11/02/2023 at 1:00 PM MT | ||
| Auxiliary batch closes | 11/02/2023 at 2:00 PM MT | ||
| Payment due date | 11/03/2023 at 2:00 PM MT | ||
| Budget, Deposit and Payment Information | |||
| Deposit or Budget required (% of estimated winnings) | 10% | ||
| Minimum deposit amount | $0.00 | ||
| Registration Fee | $0.00 | ||
| Registration Fee Refundable | No | ||
| Registration Fee Applied to Winnings | No | ||
| Deposit / Payment types acceptable: | Deposits | Payments | |
| Budget | No | --- | |
| ACH | Yes | No | |
| ACH auto-debit final payment | --- | Yes | |
| Wire transfers | No | No | |
| Counter payments | No | No | |
| Redemptions available via ACH? | Yes | ||
| Public Access | |||
| Public computers available | La Plata County Treasurer's Office | ||
| ** Subject to change. The site will open when approved by the County. | |||