Those who are interested in owning property in Maryland can look forward to several tax sale auctions in May. As we are officially in tax sale season, you have opportunities to secure great deals. We prepared a handy guide for you to prepare your next move.
Upcoming Maryland Tax Sales by County
Keeping track of tax sales in the state is important if you want to secure a property. Once you know when a tax sale is happening, you can plan and take action once the property you are eyeing becomes available for purchase. Here are the upcoming tax sales this May 2023:
- Kent County: May 11 (last day to pay is May 10)
- Caroline County: May 11-12
- Baltimore City: May 15
- Queen Anne’s County: May 16
- Talbot County: May 17
- Worcester County: May 17-19
- Garrett County: May 22-26
- Allegany County: May 24 (last day to pay is May 19)
You can find the full list of tax sales in Maryland in the 2023 Tax Sale Schedule at the Department of Assessments and Taxation.
What Is a Tax Sale?
Tax sales are public auctions that county governments hold to sell delinquent properties. Jurisdictions sell the liens on properties that have unpaid taxes, meaning you are not buying the property immediately.
These sales also serve as ways to collect unpaid taxes from the delinquent property owner. In addition, anyone can buy a property from a tax sale because the auctions are open to the public.
How To Prepare for a Tax Sale
Anyone thinking about purchasing a property at a tax sale auction must be prepared. Some important factors to remember include:
- Research before the actual sale that you want to attend.
- Know how much the property you want is worth.
- Look up how much the outstanding taxes on a property lien is worth.
You might also want to consider attending a tax sale before you participate in one. That way, you can understand how the events go about. You may attend tax sale auctions online or in person.
How Does Purchasing Tax Sale Properties Work?
Tax sales generally work like any auction where the highest bidder purchases the rights to the tax lien. However, the nitty-gritty of buying a property from a tax sale can be complex, especially for newbies. They can be confusing and cost people thousands of dollars for small mistakes.
Having a Maryland tax sale attorney on your side can help you navigate the process correctly. Good lawyers understand how Maryland tax sales work and can ensure you know what you’re getting into while also meeting your goals.
The Bottom Line
Maryland has several tax sale auctions lined up for May. You can buy tax lien certificates during these events. We gathered all the relevant dates to help you plan around the auctions and work your way toward your property goals.
For further assistance, LewisMcDaniels has a Maryland tax lien attorney team that can represent your interests in these tax sales. Our skilled representatives can develop a strategy while working closely with you, so you can achieve your goals. Connect with us today.
