Late on property taxes? It’s lien cuisine for you

Annual treasurer’s auction starts Feb. 27

KINGMAN – The Mohave County Treasurer’s Department will hold an online auction to sell off tax lien property starting Feb. 27.

The sales are held each year to satisfy statutory requirements and also in an attempt to recoup delinquent taxes.

State law requires county treasurers to secure the payment of delinquent taxes through the sale of tax liens. Sales being held this year, according to David Chevalier, chief deputy treasurer, are ones that were delinquent on their 2004 taxes or older. Liens are sold for the amount of the back taxes to interested investors, according to Chevalier.

According to SRI Auctions Online, the company handling the online auctions for the county, property is not actually sold during the tax lien sale. Rather, investors essentially offer to pay off the back taxes for an interest in the property. The property owner has about three years to redeem the property before the lienholder has the option to begin the foreclosure process.

If the property is redeemed, according to SRI, the lienholder must surrender the lien and will be reimbursed the money he or she paid for the taxes, with interest. The bids on the property are for the interest rate the tax lien will have.

Chevalier said that bidding on interest rates could be as high as 15 percent and as low as 0.

The online auction will commence at 8 a.m. Feb. 27 and will be available until 8 p.m. each day. Chevalier said about $13,000,000 in delinquent taxes are up for auction. The auction will continue every day except Sundays and holidays until all of the liens are sold. Computers will be available at the Mohave County Administration Complex at 700 W. Beale St., from 8 a.m. until 5 p.m. every day in the Barrel Room.

In order to participate in the auction, those interested must have a tax sale bidder number. These can be obtained at SRI’s Web site www.sri-auctiononline.com.

The final day for owners to pay any of the delinquent taxes is Friday.

Further questions can be directed to the Mohave County Treasurer’s office at 753-0737 or online at the county’s Web site, www.co.Mohave.az.us.