This post features MaineTax Sales Explained, A video posted on YouTube on April 16, 2020.
MaineTax Sales Explained
Maine is a Deed State and has an 8% Penalty with an 18-month redemption. The fact that it has 16 counties really does make a difference because Maine Tax Sales auctions are held at the local municipality level.
Rules for Maine Tax Sales are Confusing
Interested in Tax Sales in Another State?
Tax Sales investing is a niche that has the potential to be insanely profitable.
However, most investors do not have a deep understanding of this investing strategy.
Every state has a unique set of rules and regulations. There are some basic rules you need to understand as to how the process works. Generally, states will fall into one of three categories:
- Tax Lien States
- Tax Deed States
- Hybrid States
Hybrids are states who conduct their tax sales by selling tax deeds with a caveat. The deeds have a redemption period much like a tax lien certificate.
This map provides links to information for every state as well as Washington DC.