What Are Tax Liens?
Each year counties collect taxes on residential and commercial property and vacant land. The county then uses this money to repair roads, fund schools, pay for law enforcement and courts and other county programs. If you are paying a mortgage on your home part of what you pay each month goes into an escrow account that pays your property taxes each year.
Sometimes, people decide to pay their taxes separately, or, if they have paid off any mortgages on the property, they are personally responsible for paying these taxes each year.
In the Denver seven country region, each county sends out tax notices between March and early May each year. Taxes are due about the 28th of June.
Any taxes not paid by this time are considered delinquent, the county liens the property (so that it can't be sold until the taxes are paid) and starts to charge interest on the amount due. Interest is between 11 and 15% depending on the current prime rate and other economic factors in the area (in 1995 and 1996 the interest rate was 14%).
This is a generally safe, though very long term investment. For a hard copy of the full proposal please send three dollars (to cover postage) to:
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