Mississippi Tax Sale Facts:
Mississippi has 82 counties and is a lien state. The interest rate is 1½% per month (18% per year) and the redemption period is 2 years. Mississippi calls Tax Sales “land sales”. These tax sales are the responsibility of the county tax collector.
A few of the more populous counties have tax sale information online but don’t count on it. You will be contacting the county most often for tax sale and property information.
In Mississippi, there is no interest paid on the premium above the minimum bid. Furthermore, the premium is not repaid either. As such, any premium bid over the lien amount will DRASTICALLY reduce your yield.
Any unsold liens return to the state. Only 1-2% of the properties return to the state each year. While Mississippi does not sell liens or deeds over the counter, they do have a deed sale as well as a lien sale. The lien sale is the last Monday in August and the deed sale is the first Monday in April.
From an investor perspective, Mississippi is in the middle of the road. On the negative side, you will not get money back from the premium. On the good side, rental laws favor the owner and you may end up with the property for a bit of nothing.
They get a 3 out of 5.
My new book for Tax Sale Investors
Something else that I’d like to mention. Recently, I released a 259-page book. The title is The Ultimate Dictionary of Real Estate Terms. If you plan to attempt investing in Mississippi tax sales then this book is a MUST HAVE! Scouring the Internet, I worked with other authors’ books. Now, I deliver you guys a reference that has defined more than 4300 terms related to real estate. It’s available at Amazon and Barnes & Noble and about 200 other retailers. The price is around $20 but at the end of this post, I will show you how you can get it for free.
If you would like to have Mississippi Tax Sales explained even more,
Click on one of the links below
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.
