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Teller County Treasurer
Tax Lien Sale Procedures

Date, Time, Location

The Teller County Tax Lien Sale will be held on November 6, 2009. Registration begins at 7:30 a.m. and the sale will commence at 9:00 a.m. It will be conducted at the following location:

June Hack Community Center, 128 E Bennett Avenue, Cripple Creek, CO

Method of Payment

All bids must be covered by cash, cashier's check or a personal check.

Buyer Data

Each buyer will be required to complete a registration form with name, address and telephone number, as well as a W-9 per federal law. A bidder number will be assigned after the forms have been completed.

Sale Procedures

It is your responsibility to research the quality and classification (zoning) of the property on which you intend to bid. It is the recommendation of the Treasurer that you consult with private legal counsel prior to participation in the tax lien sale.

The sequence of the published list will be followed as closely as possible during the sale. Mining claims are no longer listed separately; it is the bidder's responsibility to be aware of the classification (zoning) of the property. An updated tax sale list will be available at the sale.

Each parcel will be offered in compliance with Title 39, Article 11 of the Colorado Revised Statutes. Each parcel will be subject to open floor (general) bidding. The bidding will begin with the amount of taxes, interest, and fees (minimum amount) due as indicated on the tax sale list. Any bid above the minimum amount is considered to be a premium bid. Premium bids will begin at $5 and will be increased by increments of $5. The auctioning will provide all buyers with the opportunity to compete for each parcel.

The tax account number and the minimum amount due for each parcel or unit will be read only once. All successful bids are final. There can be no changes or cancellations after a lien is sold.

The sale will be conducted as rapidly as possible, consistent with the objectives of the sale and in fairness to all buyers. The day will be utilized entirely, insofar as possible, with a 90-minute lunch break and 20-minute breaks both morning and afternoon. If a continuance is necessary, the sale will be reconvened on the succeeding business day at 9:00 a.m. Any announcement of adjournment or reconvening will be made at the sale.

A Tax Lien Sale Certificate of Purchase will be issued for each tax lien and will be in the statutory form showing the legal description, purchase amount, rate of interest, buyer's name and the date of sale. Certificates will be issued in the name under which the buyer registered.

Redemption Interest

Tax Lien Sale Certificates of Purchase for 2009 will carry the rate of nine percentage points above the national bank discount rate as of September 1, 2009 in accordance with Colorado Revised Statutes. Interest rate for the 2009 Tax Lien Sale will be 10%. Premium bids are non-refundable and do not earn interest.

Prohibited Buyers

No Teller County official or employee may purchase a tax lien at this sale. This also applies to the immediate family or any agent of a Teller County official or employee.

General Information

It must be understood that the sale and purchase of a tax lien does not, as it might under simple sales and purchase agreements, convey the right of possession, use, improvement or access to said property. The buyer is issued a Tax Lien Sale Certificate of Purchase.

In the event the lien remains unredeemed, the certificate holder has the right of paying subsequent years' delinquent taxes (sub-taxing) after August 1 of that year. Three years from the date of the certificate, if the lien remains unredeemed, the certificate holder may apply for a Treasurer's Deed to the property. The deed process normally takes three to six months. Extension of that time frame may occur if there are complex problems related to the property. When application is made, a deposit is required to pay all related deed expenses pursuant to law. The deed deposit is currently $350. Prior to deed application, all subsequent taxes, special assessment liens and current taxes must be paid and endorsed onto the certificate.

If the lien is redeemed, the certificate holder is entitled to interest on the original sale amount and any subsequent endorsements. Liens may be redeemed at any time prior to the issuance of a Treasurer's Deed.

Wrongfully Sold Lien

If a lien is wrongfully sold and the County must pay the certificate holder the accrued interest, the rate will be 8% per annum.