An opportunity to purchase tax lien certificates on Tulsa County properties through a delinquent property tax sale is set Monday, Oct. 2.
The annual sale will be held from 9 a.m. to 4 p.m. at the Maxwell Convention Center.
Registration can be completed in advance by obtaining a form from the website and mailing it to the Tulsa County Treasurer’s office.
The website address that will be available the first week of September is www.treasurer.tulsacounty.org. There will be a button for the October tax lien sale.
Registration also can be completed the morning of the sale at the convention center site between 7:30 a.m. and 9 a.m.
Individuals registering after 9 a.m. will be accepted, but will not have priority status in the bidding.
The 2006 tax lien sale involves unpaid 2005 property taxes, according to First Deputy Keith Hamilton. It is not the actual sale of the property. It takes two years after the October sale before property can be transferred to a new owner with a deed through the tax lien process.
If no one buys the tax certificate on a particular piece of property, the county becomes the default purchaser, he said. If that happens, a sale on that land will occur in June 2009.
Timely registration is key to the success in bidding for the liens, Hamilton said. Anyone who pre-registers or has completed registration by 9 a.m. the day of the sale is considered equal in the process.
Anyone registering after 9 a.m., will not be part of the first pool, but will be considered according to their time of signing in, he said. For example, a person registering at 9:01 a.m. will get priority over someone signing in at 9:02 a.m.
Bidders are asked to be specific about which property they are interested in purchasing. Names of all those interested in specific pieces of property are placed together and a drawing is held to determine the successful bidder.
The selection process is automated once registrations are received, Hamilton said. The successful bidder generally is notified the following day.
The tax lien sale attracts a lot of attention from large corporations and individuals because it is considered a good investment, Hamilton continued. Any owner wishing to redeem his property must pay not only the past due taxes, but also 8 percent interest.
Payments can be made with cashiers check, cash or personal check.
But, Hamilton added, if the check is returned, the bidder doesn’t get the property.
A list of the 8,100 properties with outstanding taxes will be published Sept. 1 and Sept. 8 in the Tulsa Daily Commerce and Legal News. Copies of the publication will be available either at the office of Dennis Semler, Tulsa County Treasurer, third floor of the courthouse; Tulsa Daily Commerce and Legal News and Tulsa Business Journal, 20 East 5th St., or at the Neighbor Newspaper office, 8545 East 41st St.
About 2,000 properties will not be included in the tax lien sale because property owners will make the payments immediately prior to the Oct. 2 date, Hamilton said. Quite often, there is a long line at the treasurer’s office in days immediately prior to the sale.
Property owners waiting until the last minute to pay the delinquent taxes must bring either cashiers checks, money orders or cash, he said. The cutoff for personal checks is Monday, Sept. 4.
Other Neighbor Newspaper offices where the tax list will be available include: Bixby Bulletin, 103 N. Cabiness; Jenks Journal, 116 B. E. Main; Broken Arrow Daily Ledger, 110 W. Kenosha; Collinsville News, 1113 W. Main; Owasso Reporter, 202 E. 2nd Ave.; Sand Springs Leader, and Tulsa County News, 303 N. McKinley, and Skiatook Journal, 500 West Rogers.
Other locations where the tax list will be available is Steve’s Sundries, 2612 S. Harvard; Tulsa County Sheriff’s office; Tulsa City Hall, and Tulsa County Court House.