IS OREGON A TAX LIEN STATE?
Is Oregon a tax lien state? The answer may surprise you! Each state has its own rules for processing tax delinquent properties, and Oregon does too. Here’s how you can profit from it.
My name is Ted Thomas, and I’ve been involved in the tax lien and tax deed business for over 30 years.
I started with single family homes in my own neighborhoods which I rented to others and grew that business into investing with investors purchasing 50-unit and then 150-unit and 300-unit buildings.
30 years ago, I discovered tax liens and tax deeds, and I never looked back. These tax liens and tax deeds are profitable, and they allow the little guy to start with pennies and grow wealth.
I have taught hundreds of students who had very little money. Many used credit cards to make their first deal. Today, those eager beavers are secure and happy.
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IS OREGON A TAX LIEN STATE? – A PLEASANT SURPRISE
Today I’ll answer your question, “Is Oregon a tax lien state?”
I’m going to share information with you so when we finish, you’ll have knowledge that will help you make more money and less mistakes.
You don’t know what you don’t know. The tax lien and tax deed business is full of surprises, and many of the surprises are beneficial to those who are educated and recognize them.
For example, more than 20 years ago, while practicing as an investor and purchasing tax deeds in California, I decided I’d broaden my search for deals in other states.
One of the states I picked was Oregon. At the time, California was experiencing dozens, maybe hundreds of people leaving the state for new opportunities with less bureaucracy and less taxes.
Living in northern California at the time, it just seemed normal to look at the state of Oregon. It was surprising what I learned.
IS OREGON A TAX LIEN STATE? – AN AMAZING OPPORTUNITY
I was shocked to find county governments that seized tax defaulted property, and the property owners forfeited and defaulted to the county.
A short time later, the county commissioners attempted to sell the property at tax defaulted auctions. However, there were little or no bidders!
Imagine. The county treasurer, following the due process of law, gave notice to the property owner and ultimately seized the property for nonpayment of taxes.
The county attempted to auction the properties for 5 and 10 cents on the dollar with no deed of trust or mortgage.
Let me repeat what I just said. The local county announced auctions with minimum bid prices, and no one purchased. Amazing!
IS OREGON A TAX LIEN STATE? – A SPECIAL PROGRAM
The county, to my amazement, then announced a new program to citizens of the state that the county would lend 100% of the minimum bid so that bidders would have money to buy the tax defaulted property!
It sounds too good to be true and it’s a perfect example of “you don’t know what you don’t know.”
IS OREGON A TAX LIEN STATE? – A TAX DEED STATE
Now to answer your question, “Is Oregon a tax lien state?” The answer is, “No.”
The legislature of the state of Oregon has elected to create strong laws regarding the collection of property taxes. The laws are called statutes and available to you on the state and the county websites for free.
I’m not an attorney, real estate broker, public accountant or financial advisor. I am an author, publisher and prepared auction buyer, and I’ve spent the last 3 decades guiding, teaching and mentoring student investors who wanted to learn the business.
IS OREGON A TAX LIEN STATE? – HOW IT WORKS IN OREGON
Here’s a quick review of how it works.
This business has been ongoing for over 200 years. The Oregon legislature makes the rules for property tax collection. All property owners must pay property tax.
The legislature in Oregon will authorize the local county to levy property taxes, collect property taxes, and if the owner fails to pay, the county is authorized and mandated to seize the property.
IS OREGON A TAX LIEN STATE? – OREGON TAX SALE
After it’s been seized, the tax delinquent property is sold at a public auction. Anyone can attend and act as a buyer.
The auctions are live at a county building, or they could be online.
The auctions are announced in local newspapers and on the county websites.
The starting bids at these auctions are usually very close to the delinquent back taxes plus any penalties, delinquencies and fees.
IS OREGON A TAX LIEN STATE? – A MORTGAGE-FREE PROPERTY
The county supervisors or board of commissioners authorizes the treasurer with the power to wipe out any mortgage or deed of trust loan from the property and the public records simultaneously with the auction process.
The new buyer who made the winning bid at the auction will receive a tax deed and own the property free of mortgage or deed of trust.
You can do this. Hundreds before you have.
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IS OREGON A TAX LIEN STATE? – TAX DEFAULTED PROPERTY
The low-population counties will have dozens of delinquent properties, and the high-population counties will have hundreds of properties.
The property could be vacant land or residential land, or possibly even a subdivision, farm, single family home, or office building.
The county has seized the property, however, they do not want the property.
IS OREGON A TAX LIEN STATE? – A LUCRATIVE BUSINESS
Annually across the United States, there will be 5,000 scheduled auctions in the 3,000+ counties.
This is a little-known yet lucrative business. Once you learn the how-to and the selling process, you can do this.
The government wants you to start a business, grow the business and employ others.
Savvy investors who are educated and trained can sit on their “assets” at a computer and do the majority of the business online. However, researching property with boots on the ground is a must before the purchase.
IS OREGON A TAX LIEN STATE? – KNOW THE RULES
I want to remind you that governments, federal, state and county change the rules regularly. To be successful requires you to know the rules and adapt to the rules.
The treasurer and the local county officials, under the direction of the board of supervisors or county commissioners, will dictate the rules in local counties.
IS OREGON A TAX LIEN STATE? – EXAMPLES
For example, Los Angeles County requires a bidder to deposit $5,000 in advance of the auction to receive a bidder’s card with a number on it. The deposit is returned if the bidder is unsuccessful.
Another example is Portland Oregon. The county is Multnomah County, a large population county that requires an earnest money deposit of $25,000 in the form of a certified check.
My point is federal, counties, and states make their own laws, and if you don’t know and haven’t read the rules, you’ll waste a lot of time getting to an auction where you can’t bid.
We hope you enjoyed Ted’s lesson, “Is Oregon a Tax Lien State?”
So does Oregon do tax lien sales? No, Oregon is a tax deed state, and it’s a very special one.
Officials announced a program to citizens of Oregon that the county would lend 100% of the minimum bid so that bidders would have money to buy property at Oregon tax sales. Oregon is truly an amazing place to do business!
Since Oregon is a tax deed state, that means the county seizes properties for nonpayment of property taxes and sells them at auction. Starting bids are around the amount of the delinquent property taxes owed, which are a small percentage of the assessed value.
At these auctions, you can purchase properties for pennies on the dollar, leaving you with an excellent profit margin for a quick resale. However, you must know the rules and do your homework.
If you’d like to learn more, there’s no one more qualified to teach you how to invest in tax delinquent property than Ted Thomas, America’s leading authority on tax lien certificates and tax defaulted property investing.
Ted Thomas is the only one who provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops & web classes, and personal one-on-one coaching.
Get started today at no cost with Ted’s FREE Master Class, that reveals the incredible opportunities available in tax lien certificates and tax defaulted property. The class is only about 1 hour of streaming video and contains life-changing information! You can’t afford to miss it!