Alaska Tax Deeds

 Sale Type:  Tax Deed
 Interest Rate:  N/A
 Bid Method:  Varies by Municipality
 Redemption Period:  1 year minimum
 Sale Date(s):  Varies by Municipality
 Statute Section(s): Title 29, CH 45, Article 2
 Over-the-Counter:  County – NO State –YES
 State Website:  http://www.state.ak.us/

Alaska State Overview

Alaska is classified as a tax deed state and handles tax sales through boroughs rather than counties. Every year the tax collector will issue tax lien certificates on delinquent properties and send them directly to the county for filing. One year from the time the tax lien was originally issued the tax lien is eligible for sale. The borough then may sell the property in accordance with the procedures set by the individual municipalities.  Many boroughs use a premium bid or a sealed bid method to conduct sales. Prior to the auction the tax collector is required to send certified letters to the last recorded address of the owner and any other party with interest in the property.

A list of properties available for the upcoming auction will be listed in the local newspaper prior to the sale. The property owners may redeem the property up to the day before the auction by paying all delinquent taxes, penalties and fees. The tax sale may be referred to as tax deed sales, land sales, or tax foreclosure sales, depending on the borough or city municipalities.

Alaska uses different methods within the state to conduct tax sale auctions. To determine the bidding method used, you will need to contact the borough municipalities. Many boroughs will allow you to register the day of the sale. Upon registering you will be given a bidding number which you will use to bid. Tax deeds are awarded to the highest bidder.

The two most commonly used methods of buying tax foreclosure deeds in the burroughs of Alaska are the “Premium Bid” and the “Sealed Bid”. The Premium Bid includes all delinquent taxes, penalties, interest, and administrative costs. Property will be bid up in price until a high bid is established. The highest bidder is awarded the deed to the property. To use the Sealed Bid method, you must download or pick up the required county form and submit you bid. It must be received before the day of the sale to be valid.