Sale Type: | Tax LienA legal claim or right against a property that serves as security for a debt or obligation owed by the property owner. Certificates/Tax Deeds |
Interest Rate: | 10%+1% |
Bid Method: | Highest Bidder |
1 Year | |
Sale Date(s): | Year Round |
State Statute(s): | |
No | |
State Website: |
Rhode Island State Overview
In Rhode Island, tax collector's sell tax deeds (hybrid tax deedA legal document that transfers property ownership to the government or an investor after the owner fails to pay property taxes for an extended period.) with a 1 year right of redemptionThe legal right of a property owner to reclaim their property after a tax sale by paying the full amount of delinquent taxes, interest, and penalties.. The original owner may redeem by paying the purchase price plus a 10% penalty plus 1% per month after 6 months.
Tax Sale Type: Hybrid Tax Deed. (Sec. 44-9-12).
Contact: Tax Collector. (Sec. 44-9-7).
Interest Rate and/or Penalty Rate: Ten (10%) penalty if redeemed within six (6) months of the date of sale, and an additional one (1%) percent penalty for each succeeding month. (Sec. 44-9-19) and (Sec. 44-9-21).
Bid Procedure: Premium bid / highest bid. (Sec. 44-9-8).
Redemption Period: One (1) year. (Sec. 44-9-25).
Law: General Laws of Rhode Island, Title 44, Chapter 9 – “Tax Sales”.