Tax Lien Sale

#FFFFFF

Rules and Information – 2022

www.zeusauction.com

BUYER BEWARE TAX SALE – It is the bidder’s responsibility to research the property on which they are bidding. At the close of the auction, all successful bids are final. No changes in, or cancellation of, liens purchased can be made after the lien is sold.
Employees and officials of Gilpin County, members of their immediate families or their agents may not acquire a tax lien at the Gilpin County Tax Lien Sale. CRS 39-11-151.
At the County Treasurer’s discretion, the method of the sale may change.

Registration and Research

The Internet auction website will be open for registration and research on or about October 1, 2023, through Monday, November 13, 2023, at 5:00 PM. If you registered with Zeus for last year’s online Tax Lien Sale you need to only log in and register for the Gilpin County Tax Lien Sale.
No deposit is required at the time of registration.
Each bidder will be required to register online with zeusauction.com to participate. Bidders are responsible to assure their information is correct, as IRS W-9 forms, tax lien certificates, redemptions and refunds are prepared from this information. All documents must match name with tax payer ID. Only bidders with a US Tax Payer ID are allowed to participate.
The Delinquent Tax List will be published weekly for (3) three consecutive weeks beginning October 12, 2023, in the Mountain Ear newspaper – no deletions will be made.
Beginning October 12, 2023, this list will be available for research on the Gilpin county website at www.gilpincounty.org and will be updated periodically.

Bidding

Bidding begins November 14, 2023 at 8:00 AM MST. Bidding will continue until the closing hour, November 16, 2023, at 5:00 PM MST.
Bidding will begin at the amount of taxes, interest, advertising and fees due at the time of sale. Any bid in excess of this amount is called a Bonus or Premium Bid.
The bonus is not returned if the property is redeemed, nor do you receive interest on the bonus amount. The person paying the highest amount is issued a Tax Lien Certificate of Purchase, which is a lien on the property. It must be understood that the sale and purchase of a tax lien does not convey the right of possession, use, improvement or access to said property.
Liens not sold are struck off to the County and are available for purchase through the Treasurer’s Office after December 1st.

Payment for Liens Purchased

When the auction ends, SRI, Inc. will notify the high bidders by email. Auction results are also available for anyone to examine for a minimum of five (5) days after closing. If the high bidder fails to pay according to the terms for each sale, the high bidder will lose their right to the item purchased and will be barred from bidding on this site in all future auctions.
Payment for all winning bids will be made by ACH from the bidder’s account that was used in the registration process. This is the only form of payment accepted.
The bidder is responsible for ensuring that there are sufficient funds in the account that was used in the registration process.
The transfer will be initiated after 12:00 midnight on November 17, 2022 (12:00 AM MST) or as soon thereafter as it is practical to do so.
Non payments or payments that are rejected due to lack of funds or other reasons may result in cancellation of the corresponding bid(s) subject to CRS 39-11-116. Rejected payment holders will be banned from future sales.

Interest

When redeemed, the Tax Lien Certificate of Purchase will pay interest. The interest rate is set by the State Bank Commissioners by September 1st each year and changes annually.
If a property is wrongfully sold, the interest paid to the purchaser shall be two points above the Discount Rate but no lower than 8%. CRS 39-12-111.

Tax Lien

You do not have ownership rights to the property, simply a property tax lien. You are not buying the land--this is merely a lien against the property. It must be understood that the sale and purchase of a tax lien does not convey the right of possession, use, improvement or access to said property.
A lien is valid for 15 years from the original issue date. After 15 years, the Tax Lien Certificate is cancelled. CRS 39-11-148
If you wish to transfer a Tax Lien Certificate of Purchase, please contact our office.
Please remember to keep us informed of your current mailing address.

Subsequent Taxes

If the owner does not pay subsequent taxes before August 1st each year you will be given the opportunity to pay them. The Endorsement Statement will be mailed to you after August 1st each year. Your payment will be endorsed onto your Tax Lien Sale Certificate of Purchase and will accrue interest at the same rate as your original certificate.
If there are multiple lien holders on a parcel from previous years, the current tax payment is applied on a first received basis. The property owner may also pay the current year taxes prior to the subsequent taxes being received from the investor.

Redemption

When the lien is redeemed, the Treasurer’s Office will process the redemption and mail a check to the investor.
Tax Lien Redemptions generated by the current Tax Lien Sale will not be processed until after December 1, 2023.

Treasurer's Deed

A Treasurer’s Deed may be applied for three years after the date of the auction if the property remains unredeemed. A deposit, which is currently $500 for a parcel with an assessed value under $500 and $700 for an assessed value of $500 or more.
Please see Treasurer’s Deed Information
REMEMBER...your Tax Lien Sale Certificates of Purchase are important documents.

Please call the office at 303-582-5222 if you have any questions OR email us at
Daurice McMillan, Chief Deputy Treasurer - dmcmillan@gilpincounty.org
Mary Lorenz, Treasurer - mlorenz@glpincounty.org