Louisiana Tax Lien Sale Auction question

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Hi, I am trying to learn about tax lien sales in Louisiana. 

As I understand, the bidder with the lowest % of willing to own wins the auction. 

As I understand it, if you win, you pay the price, say $500. Then, they would pay you back the $500 + 5% penalty + 1% interest per month. However, if you win, you must pay the property taxes going forward until it is repaid. 

Does the owner repay you any of the additional property taxes you paid in excess of the original amount, $500? 

Any help is much appreciated. 

@Joseph Pumilia Property tax sales can be a very good investment, but it's also complicated and you can just as easily lose money as well. I've purchased 100's of properties from tax sales in Louisiana over the last 10+ years. While I have good grasp on the process and all the pros and cons, I've had to learn some the hard way. There is a steep learning curve and I still learn new things from time to time.

This is a very brief summary of how it works, to answer your questions...

Someone is delinquent on their property taxes, it will go to a property tax sale usually in May - July. The amount they owe on property taxes plus interest and penalties is what you would pay if you get the property. The "%" bidding down will always happen online (Civic source) but in some " in person" property tax sales % bidding doesn't take place. (that is whole nother conversation).

When you win, the person has 3 years to redeem the property, during that time they pay you 1% a month interest plus the initial 5%. Yes, that is on the entire amount you paid at tax sale and on all of the additional tax bills that you paid.

No, you are not required to pay the property taxes going forward. If you do not pay the next property tax bill then the property will go back to the tax sale the next year. You then have 3 years to redeem it. You would need to redeem it and quiet title before 3 years or you would lose it to the person who bought it at tax sale from. (This is another whole long conversation, but it is also a strategy that some tax sale buyers use.) To be safe, I would plan on paying the tax bills not to mention making 1% a month (12% a year) on the money pay is a good investment in and of it's self.

I am in Covington and also a licensed real estate agent, if you have any other questions let me know.