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Updated over 6 years ago,
Surplus Sale in Indianapolis, IN
I have purchased property before at the annual Tax Sale, but have not ventured to any of the surplus sales, as of yet. Unfortunately, the amount of information that Marion County has available is limited.
When purchasing a property at a Surplus Sale, is the buyer responsible for all back taxes, or are they merely responsible for the previous year? For example, if a property has $20,000 in overdue property taxes, but is only worth $6,000, it is unlikely to sell at the tax sale. When it goes up for sale at the Surplus Sale, would the potential buyer still be on the hook for that $20,000 or would they only owe the 2015 taxes, say $500?
Any help would be greatly appreciated!