Tax Lien Sales
The tax lien sale is for the purpose of collecting unpaid taxes and provides the county and other taxing entities a way to operate even though some taxes remain unpaid. It is important to realize that the property is not being sold, just the taxes. This creates a tax lien against the property, which, if remains unpaid for three years can result in the loss of the property.
November 1, 2018
All property tax sales are offered with a “Buyer Beware” warning. There are no guarantees on any of the properties offered. It is the buyer’s responsibility to be aware of the risks involved in purchasing tax liens.
Advertisement of Tax Liens for Sale
The list of tax liens available for purchase is advertised for three consecutive weeks prior to the sale in either the Crested Butte News or the Gunnison Country Times. A hard copy of the actual paper with the advertised list is available from the Treasurer’s Office. Just send $2 along with your request to the above address. Don’t forget your mailing address. You can also be put on our e-mail list by e-mailing Angela at firstname.lastname@example.org. In the e-mail just request to be added to the tax sale list and you will receive the list approximately three weeks before the sale.
The Treasurer’s Office keeps an updated copy of the advertising list posted in the office through the sale date.
Registration begins at 8 a.m. on the morning of the sale or you may pre-register the day before. You will need to fill out the registration form and a W-9 with your Social Security number or tax identification number. The registration form must indicate the exact name in which the tax certification is to be issued, the mailing address, and your phone number for our records.
The Bidding Process
You must be present to participate in the bidding process. Gunnison County conducts their sale as an open bidding auction with the tax lien sold to the highest bidder. The bidding for each property starts at the total due of unpaid taxes, interest and fees. Any amount paid for property above this total is the “premium” and goes directly to the county general fund.
Premiums are not part of the tax lien, do not collect interest, and are not returned to the buyer when and if the taxes are paid. Tax sale lien certificates earn interest at a rate of nine points above the federal discount rate as of September 1 of the year of sale.
Employees of Gunnison County, members of their immediate family or agents thereof, are not allowed to participate in tax lien sales.
Payment must be made immediately following the sale. Payment must be in the form of cash, cashier’s check drawn on a Colorado bank, or personal check.
All sales are final. No changes or refunds are made after the lien is sold.
In the event the tax lien is declared erroneous, the redemption interest will be based on a reduced statutory rate no less than 8%.
Successful bidders are issue an original Tax Lien Sale Certificate for each property. Originals are kept in the Treasurer’s Office and a copy will be mailed to you approximately two weeks after the sale.