Property sold at tax certificate sale for delinquent taxes may be redeemed within 1 year from the issuance of a Certificate of Purchase as follows:
Property may be redeemed by the owner of record, or by any person holding a publicly recorded deed of trust, mortgage, lease, lien or claim upon the property (If property is being redeemed on the owner's or lienholder's behalf, a signed statement of authorization from the owner or lienholder must accompany the redemption request)
Please advise the collector's office at least 24 hours prior to the date you will be redeeming; call to schedule an appointment and allow 20 minutes to process
Pay the collector the bid amount on the certificate of purchase plus 10% annual interest on the amount of sale less any surplus
Pay the collector the amount of any subsequent years' taxes paid, if applicable, plus 8% annual interest
Payments must be made by cashier's check, money order, or bank draft - no personal checks will be accepted
The County Treasurer holds any overage (the amount left after taxes/fees are paid to the Collector) until the redemption period is over. This amount is then paid to the original owner if they apply. If not, it is held until such time it is distributed to the appropriate school district.
Disputed claims are determined at a public hearing before the Cole County Commission.
The Collector's office notifies the Certificate of Purchase holder when the property has been redeemed. The Certificate of Purchase must be surrendered to the Collector before the holder will be reimbursed the bid amount plus interest. The Collector will provide a check to the Certificate of Purchase holder for the redeemed amount.
A Certificate of Redemption will be issued to the owner of record when property is redeemed. The Certificate of Purchase holder will be notified when a Certificate of Redemption is issued.
Note: The Collector's office makes every attempt to notify the interested parties; however, failure to receive notice(s) does not affect the legal time constraints for redeeming property or obtaining a Collector's Deed.