Indiana tax lien sale question
Hey guys,
I have been investing in tax liens in AZ, CO and FL, this year I am looking into Indiana, but it seems things are very different in IN and I am a bit confused.
First, the types of the auctions. I looked at SRI and ZeusAuction, and saw multiple terms/auctions, like "certificate sale", "deed sale", "Sherriff sale", "Tax sale", "foreclosure sale". I thought Indiana is a tax lien State, then what is the "deed sale"? Also are "sheriff sale" and "foreclosure sale" the same thing, which is when the mortgage is behind? Or is "sheriff sale" for judgement?
Second, minimum bid/face amount vs the amount of taxes behind. For example, a property in tax sale in LaPort County, the face amount to bid is $100.00, but when I looked at the county record for this property, it shows 2020 tax due 2021 is $6194.88, 2019 due is $6194.88, 2018 due is $4886.88 etc ( see the screenshots for tax and evaluation history below). How does that work?
- 1. How can a property valued for 18k owe $6194 in tax in a year? Does the 2021 tax due include all previous years' tax behind, as in the $6194 due in 2019 include the $4886 due in 2018? Or is the $6194 for 2019 year alone?
- 2. If someone bid $2000 for this property and won the certificate, and if the owner does not redeem in 12 months, the certificate holder forecloses and apply for the deed, then is he/she responsible for paying all the tax behind for all previous years, in this case $6194+$6194+$4886+$3775+$2363?
Thanks guys! If anyone can shed some light on these questions that would be great! Appreciate it!
Sophie