Investors often make money by finding a great deal on a property, then later selling it at a profit. One of the best resources for locating those deals is through the county assessor, which regularly sells tax-delinquent properties to recoup its losses. In Oklahoma, you can find these properties through local newspapers each September, but the most up-to-date listings come from the county assessor’s website.
Find Oklahoma Delinquent Property Taxes
As with other states, Oklahoma delinquent property taxes are sold after the owner is given multiple opportunities to pay the overdue amounts. A tax sale won’t happen in the state unless a homeowner is at least three years behind on property tax payments. Homeowners are well aware that the property is at risk of being lost, with multiple notices issued during that three-year time frame.
For investors, the Oklahoma tax delinquent list is a great resource for finding properties available at a rate lower than market prices. If you have a specific area of the state in mind, you can search property databases at the local county assessor’s office. You can also watch local newspapers and view recent tax-delinquent notices on county property assessors’ websites.
Searching County Websites
The easiest way to get the scoop on tax-delinquent properties in most counties throughout the state is to do an online Oklahoma tax lien search. This information should be on the treasury section of a county’s website. You can look for recent posts about tax-delinquent properties or check to see if there’s a searchable database.
In the state’s most populous county, Oklahoma County, tax delinquencies are listed through published documents on the Oklahoma County Tax Lien Publication page. But if you know the property’s location or the taxpayer’s account number, you can search the Oklahoma tax delinquent list at the Oklahoma County Treasurer's Public Access Search page. You can also input the last name and first name of the property owner in the location box, and partial names and addresses will pull up a list of properties that you can browse.
Finding Delinquent Taxes in Newspaper
Unfortunately for those who are late on payments, state law requires the county to publish the names and legal descriptions of everyone who’s delinquent in the local newspaper. This law is designed to make sure property owners are well aware of the delinquency before next steps are taken. Before you begin your Oklahoma tax lien search, it may be easier to check local papers that cover the property in question.
The Oklahoma tax delinquent list is published each September for all taxes that are late prior to Jan. 1 of that year. Taxpayers have until Aug. 15 to pay the taxes in full to avoid the information being published. You’ll also have to pay all penalties and interest on that amount, as treasurers are prohibited from waiving those fees by law. However, if a landowner feels these fees are in error, he can file a dispute through the local assessor’s office.
Buying Oklahoma Tax-Delinquent Properties
In many cases, those searching Oklahoma delinquent property taxes are interested in making a home purchase. In some states, this can be risky because there’s a period in which the taxpayer can pay all past due amounts and redeem the home. In Oklahoma, however, once the property has been deeded to a new owner, the previous owner usually loses the right of redemption.
With due diligence, an investor can make money by purchasing a tax-delinquent Oklahoma property and flipping it. Once you’ve identified properties in your Oklahoma tax lien search, you’ll want to start researching any properties you find. Find the value of the property and, if possible, conduct an in-person inspection of the property to make sure you aren’t purchasing a money pit.
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Writer Bio
Stephanie Faris has written about finance for entrepreneurs and marketing firms since 2013. She spent nearly a year as a ghostwriter for a credit card processing service and has ghostwritten about finance for numerous marketing firms and entrepreneurs. Her work has appeared on The Motley Fool, MoneyGeek, Ecommerce Insiders, GoBankingRates, and ThriveBy30.