Connecticut State Overview
In Connecticut the local tax collector oversees the sale which is conducted through oral public auction. Tax sales are held throughout the year which is determined by the counties and municipalities. Tax sales are published in a local newspaper several weeks prior to the sale. Tax deeds sold in Connecticut are purchased with a one year right of redemption. Within a couple weeks after the sale, the investor will receive a deed to the property from the tax collector. The deed will be stored unrecorded for a period of one year from the date of the sale. if the property owner does not pay all delinquent taxes, interest, penalties, and fees by the end of the twelve month redemption period, all redemption rights are terminated and the purchaser takes possession.
Connecticut uses a Premium Bid type method. The counties bid will include the back taxes, penalties, interest, and ay administrative cost. the deed will be bid up in price until a high bid has been established. The investor with the highest bid, receives the deed to the property.
In Connecticut, the tax collector or treasurer will sell hybrid tax deeds to the winning bidders at the delinquent property tax sale.
- Tax Sale Type: Hybrid Tax Deed (Sec. 12-157).
- Contact: Tax collector or treasurer (Sec. 12-155).
- Interest Rate and/or Penalty Rate: 18% per annum (Sec. 12-157 (f)).
- Bid Procedure: Premium bid/highest bidder(Sec. 12-157 (c)).
- Redemption Period: Six months or sixty days (Sec. 12-157 (f)).
- Law: Title 12, Chapter 204 (Local Levy and Collection of Taxes) and Chapter 205 (Municipal Tax Liens).