Michigan is an excellent state for tax lien certificate sales. However, after 2006, there will no longer be tax lien certificates sales in Michigan. Fortunately, Michigan is also an excellent tax deed sales state and after the new law, all sales will be tax deed sales. Here is a summary of information for tax sales in Michigan:
Interest Rate
Until, 2006 for properties with taxes that became delinquent before 2000, 15% the first year and 50% the second year
Redemption Period
1 to 2 years
Michigan tax lien auctions
Most county tax lien sales are in August
Michigan tax deed sales
Michigan also conducts tax deed sales. After 2006, all sales will become tax deed sales.
Bidding Process
All tax lien auctions are by competitive bid.
State Specific Information
Michigan is an excellent tax lien investing state because the interest rate of 15% the first is favorable and the interest rate of 50% the second year is incredible. However, after 2006, the state will not hold tax lien certificate sales anymore and all sales will be to acquire tax deeds.
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