What is a High Bid Premium and how is it calculated?
High bid premiums are additional funds collected for a tax sale property whereby the highest bid exceeds the high bid threshold. The high bid threshold is 40% of the property’s assessed value except agricultural land. The collector of taxes determines the high bid threshold for agricultural land. The high bid premium is calculated as 20% of the amount that exceeds the high bid threshold. An example can be found under Bid Premium Example. The County shall refund the high bid premium without interest to the holder of the tax sale certificate on redemption of the property for which the high bid was paid, or the plaintiff in an action to foreclose the right of redemption on delivery of a tax sale deed for the property for which the high bid premium was paid.

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1. What are the date, time and location of your tax sale?
2. How often are tax sales held?
3. Does the County hold a deed sale in addition to a lien sale? If so, when and where does it take place?
4. When and where will the tax sale be advertised?
5. How and when do I register for the tax sale?
6. What methods of payment are accepted when purchasing tax sale items? Is there a deposit required before the sale?
7. What is the bidding process?
8. What is a High Bid Premium and how is it calculated?
9. What type of document is issued at the sale?
10. Are there any other expenses in addition to the cost of the lien?
11. What is the foreclosure process, and will the County handle the foreclosure process for a fee? If so what is the fee?
12. What happens to the liens that are not sold at the Tax Lien Certificate auction? Can they be purchased over-the-counter directly from the county? Can I get a list of these liens? Can I purchase them n
13. Do you allow investors to invest in Tax Lien Certificates without attending the auction via mail, telephone, or fax? Can I send a representative to the sale to bid for me?
14. Will you please forward a copy of the statutes regarding tax sales in your jurisdiction?
15. How long is the tax lien valid?
16. What interest rate is paid on the lien upon redemption?
17. What if the owner does not redeem the property?
18. What will happen if a bidder does not file a civil action case within 2 years?