Sale Type: | |
Interest Rate: | 18% APR |
Bid Method: | Highest Bidder |
2 Years | |
Sale Date(s): | April and August |
State Statute(s): | |
Yes | |
State Website: |
Mississippi State Overview
In Mississippi, county treasurer's and tax collector's sell tax lien certificates to the winning bidder at the delinquent property tax sales.
Tax Sale Type: Tax Lien CertificateA legal document issued by a government authority when a property owner fails to pay property taxes, granting the certificate holder a lien on the property.. (Sec. 27-41-55).
Contact: Tax Colector. (Sec. 27-41-47).
Interest Rate and/or Penalty Rate: 18% per annum and 5% penalty. (Sec. 27-45-3).
Bid Procedure: Premium bid / highest bid. (Sec. 27-41-59).
Redemption Period: Two (2) years. (Sec. 27-45-3).
Law: Mississippi Code, Title 27, Chapter 41, “Ad ValoremA Latin term meaning "according to value," describing taxes calculated as a percentage of a property's assessed value — the basis for property taxation. Taxes — Collection”, Chapter 45, “Ad Valorem Taxes — Redemption of Land Sold for Taxes,” and Chapter 47, “Ad Valorem Taxes — Assignment of Tax Liens.”
Important. According to (Sec. 27-41-77) the overbid does not draw interest. Furthermore, the overbid will not be returned upon redemption and “shall be credited to the county general fund”.