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Maryland Tax Sale Assignments
The
Director of Finance, through the
Bureau of Collections, holds an
auction sale in May of each year
offering the public the right to
purchase a tax certificate on
those properties which have
delinquent liens (taxes, water &
sewer charges, boarding and
cleaning). Upon the completion of
the tax sale, tax certificates
which were not acquired are
assumed by the City. These
instruments then become the
responsibility of the Comptroller
(Real Estate Department) for
possible assignment as authorized
by Ordinance 918 approved May 13,
1943.
When
assigning a certificate, the City
or County must collect the total
liens against the property, plus
interest accruing from the date of
tax sale to the date of
assignment. If such assignment
occurs after July 1st,
the ensuing year’s real estate
taxes in addition to the liens
must be collected.
Tax
sale certificates afford the
purchaser, under certain
conditions, the right to foreclose
against the title owners in an
effort to acquire title.
In
Maryland, the interest rates vary
from 10%
to 24%, depending upon the County.
Maryland law allows the County to
select the applicable interest
rate.
The
redemption period in Maryland is
six months to two years, again
because counties have different
rules
Maryland
can be a good state for tax sales,
mainly because the interest rate
can be as high as 24 percent and
the redemption period can be as
short as six months, however all
sales rules are set separately by
each county.
You
can
Buy tax liens and deeds through
the mail
iusing the Rogue Investor
Super List, Guide to purchasing
OTC liens/deeds and audio teleconference.
The
Rogue Tax Sale Superlist contains
specific information about
Maryland and how to purchase
assignments.
For
more information...
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