1. What are the consequences of not paying my real estate taxes?
If you do not pay your property taxes, you will owe delinquent interest (1% per month) and will receive a delinquency notice in July. Any unpaid taxes will be advertised for sale in the local newspaper and will be sold if they are still not paid by the day before tax lien public auction. The real estate tax lien public auction of unpaid taxes is held in November. Each tax lien is equal to the amount of the unpaid taxes, interest, penalty, and fees (the tax lien face value). You will owe monthly redemption interest on the lien total. Redemption interest is based on the Federal Reserve discount rate as of September 1st plus 9%.
2. Can I pay my current year taxes if I owe prior year taxes?
You may pay current year taxes without paying prior year taxes until the current year taxes have been added to the prior year tax lien certificate (typically mid-July) if the prior year taxes were sold. If the prior year taxes are not sold, then you may pay current-year taxes before all outstanding taxes including current and prior-year taxes are sold in real estate tax lien public auction in November.
3. What is the consequence of not paying a service lien?
If you do not pay the service lien, the lien will be sold at the tax lien auction and a tax lien will be placed on the property. If the lien is not redeemed within 3 years from the date of sale, the tax buyer may apply for a deed. The deed to the property will be issued to the tax buyer if there is no redemption made before the deed date, which results in losing the property.
4. How much is due if my taxes are sold at the tax lien sale?
If your taxes are sold at the tax lien sale, you will owe the tax lien face value, redemption interest, redemption fee ($7.00), subsequent year endorsement fee ($5.00/year) if any, and any other fees associated with the deed process.
5. When is the treasurer's annual sale of real estate tax liens?
The Annual Public Auction of Real Estate Tax Liens will begin on October 17, 2017 at 8:00 a.m. MDT and will close on October 20, 2017 at 5:00 p.m. MDT. The auction will be conducted entirely by means of the internet at https://denver.coloradotaxsale.com.
6. How soon can I pay after the tax sale has been completed?
You may pay approximately three weeks after the tax sale is complete. This typically is around last week of November. However, the payment will be accepted during and after the tax sale with redemption interest.