ALEXANDRIA, La. (RPSO) - The Rapides Parish Sheriff’s Office is updating its Tax Certificate auction processes by implementing the assistance of CivicSource, an online auctioneer of tax-distressed real estate.
The Parish’s new partnership will be an asset to improve existing protections for homeowners and provide tremendous benefits to Rapides real estate purchasers. On Wednesday, June 12, 2019, the Rapides Parish Sheriff’s Office will host its annual Tax Certificate sale at the Rapides Parish Sheriff’s Office, located at 701 Murray St. in Alexandria.
A tax certificate is an interest-bearing lien on a tax-delinquent property that can be converted into a deed after a 3-year redemptive period.
Certificates are sold by a taxing authority at a public auction for the amount of the delinquent taxes due, plus any accrued interest, penalties, costs and other statutory impositions. In Louisiana, tax certificate purchasers receive a 5% penalty and an interest rate of 1% per month for the duration of the 3-year redemptive period. Tax certificate sales are a “low-bid wins” style auctions, in which the property is sold to the purchaser willing to bid on the least percent ownership interest in the property. If the property is not redeemed by the delinquent owner within the 3-year redemptive period, the investor can file to acquire ownership in the property based on his or her bid amount.
Winning bidders of the tax sale are expected to pay for their purchases by the close of business the day of the auction. Payment must be made in one installment and all sales are final.
To avoid a Tax Certificate auction is to pay the tax liability before the delinquent date. Each month the tax liability is not paid, the amount owed will go up. A schedule of the fees from CIVICSOURCE is below.
Date Total Costs
2/1/2019 10% of the tax liability + $15.00
4/15/2019 $ 5.00
5/15/2019 $ 5.00
6/1/2019 10% + $120 Final Tax Sale
The Sheriff’s Office Tax Department will be OPEN on December 31, until noon to accept payments. The Tax Office will be closed on January 1st, New Year’s Day and will re-open at 8 a.m. on Wednesday, January 2, 2019.
TAX PAYMENTS WILL NOT BE CONSIDERED DELINQUENT UNTIL JANUARY 7, 2019. Interest will be assessed at that time.
For more information on the Louisiana Tax Certificate sale process or to view upcoming auctions, visit CivicSource.com.