Iowa

In State Info by TSL Admin


Sale Type:Tax Lien Certificate
iowa
Secondary Type(s):NA
Sale Date(s):Annually: 3rd Monday in June
Bid Method:Varies: set by county
Interest Rate:24% per annum / 2% per month
Redemption Period:2 years from date of sale
Over-the-Counter:NA
Statute Section(s):Code of IA - Title X , CH 446 - 448
State Website:www.iowa.gov

State Overview:

There are 99 counties in the state of Iowa.

County Directory

The two most populous areas in Iowa are Polk (374,000+) and Linn (191,000+) County.

Search Demographics:

Iowa is classified as a Tax Lien Certificate state. On the third Monday in June of each year, the County Treasurer will conduct a public sale of all the parcels that are delinquent on their property taxes. Any parcels not bid on will be reoffered as many times as necessary following the annual June sale, at a 'Public Bidder' sale. The tax sale is conducted as an oral public auction, although bids may also be mailed.

Auction Process / Redemption:

The County Treasurer shall designate on the county system each parcel sold for taxes and not redeemed by noting on the county system the year in which it was sold. Technically, liens are awarded based on the bidder willing to accept the lowest percentage of ownership of the property, ie 'Bid Down Ownership'. However, many county treasurers don't utilize this system due to its complicated nature. Most counties use either a random selection process, or a rotational bidding system. Iowa has a two year right of redemption. If the property owner does not pay all delinquent taxes, interest, penalties, and fees by one year and nine months into the redemption period, the investor may begin the process of terminating the right to redeem. The lien holder must file a "90 day notice of right of redemption affidavit". If a lien holder fails to file a 90 day notice on a certificate after a period of 3 years from the date of sale, the county treasurer may cancel the lien. An interest rate of 2% per month is accrued throughout the redemption period.

In the statutes, Iowa law states that the bid method used is suppose to be 'Bid Down Ownership' of a property (although many counties use random selection and rotational bidding.)

State Resources:

ResourceDescriptionInstructions and Additional Information
State of Iowa websiteLinks to county websites.NA
Iowa State Association of Counties websiteContact information and websites, if such exists, for all 99 County Treasurers (plus other county officials in MSN Word document format.)NA
Iowa State County Treasurers Association websiteContact information for all 99 County Treasurers.NA