State Summary

• Tax Collection Method: Liens
• Tax Collection Entity: Treasurer
• Property/Tax Records Administrator: Assessor
• Taxes Due: Property tax payments are due in two equal installments. The first installment is due September 1, and the second installment is due March 1 the following year
• Taxes Delinquent: Tax bills become delinquent exactly one month after the due dates
• Tax Sale Date/Period: All Iowa counties hold their annual tax lien sale on the third Monday in June
• Tax Sale Registration Requirements: Most Iowa counties require a $25 registration fee and investors must register four days before the sale
• Tax Sale Administrator: Treasurer
• Primary Bidding Type: Bid-down Percentage of Ownership
• Redemption Period: 2 years
• Redemption Interest Rate/Flat Penalty: 24% simple interest per annum
• Over-the-Counter Sale Opportunities: None

Tax lien certificates that remain unsold after the primary June sale are offered again through "Adjourn Sales". Generally depending on the size of the county and the amount of tax lien certificates left to be sold, counties may conduct Adjourn Sales the third Monday of each subsequent month as required.

Iowa tax lien auctions use a Bid-Down Percentage of Ownership bidding method. This bidding method comes into play when a property has more than one bidder. Competing bidders then bid down the percent ownership they are willing to share with the current property owner. Issues regarding percent ownership will only come into play if the current property owner doesn't redeem and the foreclosure for tax deed process is initiated. If there is no competition (only one bidder) for an offered tax lien certificate, the bidder may purchase the tax lien certificate for the minimum bid amount.

 

Iowa County Reference