Hey everyone, Casey here. Today, we're talking about tax cells in the state of Indiana. Now, Indiana is a tax lien state. This means that when a property owner fails to pay their taxes, the taxes become delinquent. The county then sells a lien against the property, not the actual property itself. This lien gives the investor the right to collect the past-due property taxes with interest. As a tax lien holder in Indiana, the state uses what is known as an overbid auction method. The auction starts with a minimum bid consisting of the delinquent taxes, penalties, and interest owed on the property. Bidders compete to determine who will pay the highest amount of money for the lien. The return that the tax lien investor will receive for their investment is a flat 10% penalty for the total paid for taxes and fees during the first six months. If the property is redeemed between months six and twelve, the penalty increases to a flat 15%. It's important to note that these penalties only apply to the taxes and fees involved, not the overbid. The overbid, which is the difference between the original bid and the amount the investor has paid for the lien, receives 5% interest per year. This is separate from the penalty previously discussed, which only applies to the actual taxes and fees. The redemption period for tax liens in Indiana is one year. After that time, foreclosure can occur following specific methods outlined by state statute. The registration process for tax liens varies depending on the county, but it is usually a fairly easy process. Many counties even offer online bidding through their own software or through a popular third-party service in Indiana called SR I Services, which can be found online at SRIServices.com. If tax liens are not sold...
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