Cochise County Tax Lien Sale to be held February 23
Cochise County Tax Lien Sale to be held February 19
The yearly tax lien sale will be held at 1415 Melody Lane, in the Cochise County Supervisor's Board Room.
The sale, which will seek to collect $ 2,234,061.64 in unpaid 2018 property taxes, will be held on Wednesday, February 19, starting 12:00 noon.
3,426 property owners have been notified that liens will be sold on their delinquent parcels. Notices are being published on January 29, 2020 in the San Pedro Valley
News-Sun, the county's legal newspaper. The list can also be viewed on the Treasurer’s web page at cochise.treasurer/home. A newspaper listing can also be purchased at the Treasurer’s office for $5.00.
Properties are listed in the tax lien sale after taxes become delinquent for one year, unless there has been a bankruptcy or court action to keep the property from the sale.
Both individual and corporate investors, who stand to earn up to 16% interest from the transaction or acquire the property through foreclosure, usually purchase liens.
Anyone interested in bidding at the tax lien sale must register at the Treasurer's office prior to the sale. They may fax their information to (520) 432-8438. They will be assigned a bid number and this bid number is necessary to place a bid.
Interest rates are determined during the bidding. Investors buy assignments of the tax lien (Certificates of Purchase issued by the Treasurer) on the delinquent properties.
The Tax lien sale is not a land auction. The investor is only purchasing the tax lien and therefore has no claim to the property until the lien is foreclosed upon, and a Judgment deed is issued. This procedure may begin three years from the date of the sale.
Typically 100 plus people attend the sale, however interest in the sale has increased and the interest rate bid has become lower.
Property owners who owe back taxes can remove their parcels from the sale list by paying the amount due in full.
In order to obtain a property lien, investors pay all back taxes, interest, penalties and fees due by the end of the sale day. Payment must be made at the Cochise County Treasurer's Office located at 1415 Melody Lane, Bisbee.
Once an investor acquires the lien on a parcel, owners still make their payments to the county. The county in turn pays the investor. If the owner pays the amount owing in full, the lien is cleared.
Tips for Bidding
Anyone interested in bidding at the tax lien sale must register at the Cochise County Treasurer's Office for a bid number, prior to the sale. You may either fax a request to (520) 432-8438 or mail it to Cochise County Treasurer, PO Box 1778 Bisbee, AZ 85603. A bid number is necessary to place a bid.
The yearly tax lien sale is held at 1415 Melody Lane in Bisbee.
Payment for the tax liens must be made the same day as the sale at the Treasurer's Office.
Anyone considering purchasing multiple lots for resale may want to check with Arizona Department of Real Estate about their regulations and requirements. The department has offices in Tucson and Phoenix.
In offering the tax liens for sale, the parcel numbers will be called in the order in which they appear on the printed list as advertised in the newspaper. Many items in the original list will have been paid since the advertising and will not be called.
To bid on a parcel that is called at the sale, raise your hand and call the rate of interest you bid. The bid is by descending order: 16%, 15%, 14%, 13%, 12%, 11%, 10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1% and 0%. The bid is the rate of the interest income received by the investor collected at the time of redemption. The bid will be awarded to the person who bids the lowest rate of interest.
Anyone with a legal interest in a parcel will be awarded the bid at 0% interest, if proof of legal interest is provided at the Treasurer's Office prior to the sale.
A bid number can be assigned to an individual, multiple individuals or businesses. If an investor wishes to bid individually on some parcels and then wishes to be combined with another individual, individuals or a business on other parcels they will need to complete a separate bidder application with the appropriate information. Once a bid number has been issued to the investor or investors they will keep the same bid number each year as long as they bid in Cochise County. Bidders may verify their bid number at the Treasurer's Back Tax Department or by requesting via email at treasurerbacktax@cochise. at any time.
Any lien that is not sold at the sale will be assigned to the State of Arizona at 16% interest. These certificates can be reassigned at any time after the sale until the State Deed has been issued or the parcel has been redeemed.
If you are awarded the bid on a lien, announce your bid number. As soon as you have bid on all the parcels you are interested in, you may leave to pay at the Treasurer's Office located in the same complex as the Board of Supervisors meeting room, at 1415 Melody Lane. You will tell the cashier your bid number; they will print you out a preliminary list of the parcels you purchased. A receipt of liens purchased by the bidder will be issued once the payment has been made. Your Certificate of Purchase will be mailed to you as soon as it has been processed. Be patient. The volume is great and takes some time.
The delinquent tax listing this year has 3,426 parcels on which liens can be offered. The list also contains 11,595 back tax parcels that have been offered at prior tax lien sales and have not been sold. This list is updated monthly at the cochise. website at the Treasurer's Office link (under Departments). These parcels have more than one year's taxes due and will not be called at the sale since they have been in prior sales. The reassignments from the State of Arizona can be purchased at anytime at the Treasurer's Office.
General Information Regarding Sale of Property for Delinquent Taxes
After a tax is delinquent for one calendar year, it is offered in a Tax Lien Sale which is held at 1415 Melody Lane, Building G, in the Supervisors' Board Room.
In order to acquire property through a tax lien sale, anyone interested must purchase an assignment on the property in which he is interested by paying all taxes, interest, penalties and fees due. The purchaser must keep the subsequent taxes and fees on the property paid for three years from the date of the sale. Annual subsequent payments may be made after June 1.
Bids on certificates are by descending interest rates. The maximum rate is 16%. All assignments issued after the tax sale are sold at 16%. The Treasurer will issue the purchaser of an assignment a Certificate of Purchase. The Certificate is presented each time subsequent tax payments are made and must be surrendered if the redemption is made.
The property is not sold; only a lien for delinquent taxes is sold at the sale. A purchaser has no legal right to the property until such time as a Judicial Deed is issued. A certificate holder may not improve the property or make any claim to the property until the Judicial Deed is issued.
Anyone with a legal interest in the property as well as the owner may redeem the property anytime until a deed is actually issued to the certificate holder, per Arizona law. Taxes, interest, penalties and fees paid by the certificate holder will be refunded in the event redemption is made. The interest is prorated by the month from March 1 until redeemed, on the original amount paid for the assignment and on all subsequent tax payments from the month after payment. A fraction of a month shall be counted as a full month.
After three years from the date of the sale, a certificate holder may file in the Superior Court, an action to foreclose the right to redeem. The court will then issue a judgment for a deed. If the redemption is made after court action has begun any court costs and the attorney fees are collected by the attorney from the redeemer. The Treasurer's Office collects only taxes, interest and county fees and costs.
Subsequent Tax Payment Information
The purchaser of a tax lien must pay the subsequent taxes on the parcel listed on the Certificate of Purchase each year to retain the lien.
The purchaser cannot make subsequent tax payments until the full year's tax is delinquent. The annual payment of tax, accrued interest, and related fees will be accepted on or after June 1st each year.
The Certificate of Purchase MUST accompany each subsequent tax payment. The subsequent tax payment shall be endorsed on the certificate by the Treasurer's office in order for the purchaser to receive interest from the property owner upon redemption.
A fee of five dollars ($5.00) per parcel is charged for each subsequent tax payment. Do not send subsequent tax payments without sending the certificate of purchase to be endorsed.
The property tax statement will continue to be mailed to the property owner. A sub tax statement will be mailed by the Treasurer's office to each purchaser May 15th each year.
If the purchaser wishes information on the current sub tax prior to May 15, the purchaser must request the information from the Treasurer's office.
Any letters sent to the Treasurer's office about a certificate or to request amount for sub tax, should always list the Certificate of Purchase number and the tax parcel identification number.
If the purchaser of a tax lien certificate defaults on the certificate by failing to pay the sub tax, a second certificate will be issued on the property. The first certificate will be reassigned when the second certificate is sold.
All subsequent taxes must be paid prior to a judicial foreclosure.
LEGEND
101 - WARREN – BISBEE JUNCTION
102 – NACO, DON LUIS, SAN JOSE
103 – BISBEE – LOWELL
104 – HEREFORD, PALOMINAS, MIRACLE VALLEY
105 – SIERRA VISTA, PARKER CANYON AREA, WHETSTONE
106 – HUACHUCA CITY, SIERRA VISTA
107 – LEWIS SPRINGS, SIERRA VISTA
108 – TOMBSTONE
109 – TOMSTONE
110 – HEREFORD OVER DIVIDE
111 – MCNEAL
112 – COURTLAND & GLEESON
113 – PEARCE, SUNSITES
114 – PEARCE, SUNSITES
115 – PEARCE, SUNSITES
116 – PEARCE, SUNSITES
117 – PEARCE, SUNSITES
118 – PEARCE, SUNSITES
119 – PEARCE, SUNSITES
120 – ST. DAVID
121 – ST. DAVID
122 – PEARCE, SUNSITES
123 – BENSON
124 – BENSON
201 – WILLCOX
202 – WILLCOX
203 -- S & W WILLCOX
204 - COCHISE
205 – KANSAS SETTLEMENT
206 – PEARCE, SUNSITES
207 – PEARCE, SUNSITES
208 – POMERENE & DRAGOON
209 – CASCABEL
301 – BOWIE
302 – BOWIE
303 – SAN SIMON
304 – SAN SIMON
305 – WILLCOX
401 – SUNIZONA
402 – PORTAL – PARADISE
403 – ELFRIDA
404 – MC NEAL
405 – DOUBLE ADOBE
406 – DOUGLAS
407- COCHISE COLLEGE PARK & PAUL SPUR
408 – DOUGLAS
409 – DOUGLAS
410 – DOUGLAS
411 – SAN BERNADINO VALLEY
412 – SAN SIMON VALLEY – APACHE
600 – MINES
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