Video: Annual Property Tax Sales Held in Mississippi

[syndicaster id=’5297938′]

COLUMBUS, Miss. (WCBI) – This is no ordinary sale. Buyers can get great deals on property and earn money in the process. Property tax sales were held in every county across Mississippi on Monday.

Hundreds of investors at the Lowndes County Tax Sale are hoping for a chance to buy up to 2100 properties.

“Well this is my first tax sale. My mother and I wanted to see what it’s all about. We heard that you can get properties for a very good value so we came to check it out. We bid on a couple of properties,” says bidder, Jason Taylor.

The winning bidder can earn up to 18% interest yearly on the amount of tax paid for the property. Some say tax sales are the best low risk investments.

“The interest is better than the interest you get on a savings account or CD or anything like that. So the benefit would be that you earn money on your money,” says Carolyn Sides, who came out to bid on several properties.

After a property is sold, delinquent owners still have two years to pay their taxes and have their property returned. Lowndes County Tax Collector Greg Andrews says the competition at tax sales is growing.

“We had 135 buyers last year, in August sale last year. About a week ago, we had already 150 pre-registered,” says Greg Andrews, the Lowndes County Tax Assessor/Collector.

About 15 to 20 properties are given to the winning bid in Lowndes County each year. The annual tax sale is held yearly on the last Monday in August.