Computing Lien Interest
Hi, How is the interest computed in a Tax Lien is the property owner redeems it say in 65 days? Is it daily? Up to beginning or end of month?
Thanks for any info
Hi, How is the interest computed in a Tax Lien is the property owner redeems it say in 65 days? Is it daily? Up to beginning or end of month?
Thanks for any info
You need to read the state's statutes to determine interest rates and how it is determined.
Some are per annum, some are instantaneous.
Absolutely correct! SC charges 3% per quarter, for example, other states charge 1% per month, others charge 20% the first day after the tax bill is due!!! Indiana is 10% during the first 6 months and 15% for the second 6 months. Check the legislative laws for each state before investing...
You could call the Tax Accessors office for a payoff as of a specific date, or they might re-direct you to the circuit clerk. Hope this helps