A few newbie Tax Lien questions....

[Greg W.]

So I've obtained my first listing of OTC tax liens for sale (came in a giant excel spreadsheet, which I paid for.) Some columns within the spreadsheet I'm seeking clarity on:

Current Secondary FCV - What exactly is SECONDARY Full Cash Value on a parcel?
CP Purchase/Strike Date - Is this the date the parcel became available for sale?
Tax Amount - Assuming this is simply the base amount of taxes owed?
Interest Amount - ???
Fee Amount - ???
CP Total - I'm just assuming, if I want the lien, this is the amount I'll pay (plus a processing fee)

To give all of this better context, here were some of the values listed for the fields I have questions on (using one parcel as an example)

Current Secondary FCV - $44,500
CP Purchase/Strike Date - 2/28/2013
Tax Amount - $872.44
Interest Amount - $151.22
Fee Amount - $53.62
CP Total - $1,077.28

I was ASSUMING there would just be a Tax Amount value associated with each parcel....I'm unsure as to what the Interest and Fee values associated with each parcel are.....is that money the original owner was meant to pay to the county for being late with their taxes? If I was to purchase the above lien (as an example), would I gain interest JUST on the TAX AMOUNT ($872.44) or the CP TOTAL ($1,077.28)

Any clarity here would be greatly appreciated....

[Ned Carey]

Originally posted by Greg W.:

Current Secondary FCV - What exactly is SECONDARY Full Cash Value on a parcel?

I suspect is has something to do with the tax assessment. Therefore I don't know and I don't care. What maters is what is the property worth - not what the tax assessor thinks it's worth.

From the context I would say CP is "county purchase" or the date of the auction. Legaly this would be when the county purchased their own lien. Interest is the amount due since the sale which you would also pay the county. Fee is the cost of the property going to tax sale in the first place or a fee for buying over the counter.

So my best guess is you pay the $1077.28 and this amount will go up by the interest rate every day.

If the property gets redeemed, you will only earn interest on the original $872.44. However you will likely be reimbursed on the $151.22 in interest.

That is my educated guess based on hwo it works in Baltimore MD

Good luck - Ned