This video is part of my series where I explain the methods and procedure for Tax Sales in each state. In this post, I will discuss South DakotaTax Sales.
This post features South Dakota Tax Sales Explained, A video posted on YouTube on April 23, 2020.
South Dakota Tax Sales Explained
South Dakota has 66 counties and is technically a lien state that Bids down the interest. The interest rate is 12%. Now the first thing to say is this: to my knowledge, South Dakota Tax Sales are nonexistent.
State Law Prohibits Tax Sales
A state law passed prohibiting the public sale by counties of tax certificates. This law went into effect beginning July 1, 2006. When tax certificates issue, the counties now hold them. This law did not affect any existing tax lien certificate holders.
An individual county can pass a resolution if they want to be able to sell liens or deeds. As far as I know, no counties have passed such a resolution. However, I would like to explain where you can get some resources to find out for yourself. Why? Here’s the thing. If you find a county actually doing tax sales in South Dakota there’s going to be very little competition. The laws recently changed. South Dakota counties are sparsely populated. If a county opens up, it could be a goldmine!
A Possibility…
Now what I’d like to do is give you guys a worksheet for the South Dakota. Each one of the worksheets is several pages. Each one has all the information I mentioned plus my personal notes. There are links to the state’s laws and other applicable websites. There are also links to every single County and in some cases municipality. This is important as some of the northeastern states run their auctions by city instead of by County. Finally, each worksheet has got a map of the state showing the counties for your convenience.
An Awesome Resource 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 South Dakota tax sales, or ANY 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 South Dakota Tax Sales explained even more,
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.
The Ultimate Dictionary of Real Estate Terms
More than 4300 Real Estate Terms Explained with Clear and Concise Definitions For Real Estate Investors, Homeowners, Agents and Brokers
