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States › Alaska › Tax Sale Summary

There are 16 Boroughs and 11 Geographical Census Areas in Alaska. The state motto is "North To The Future". Currently, Alaska does not offer Alaska tax lien certificates to the general public, instead they sell Alaska tax deeds at local tax sales.

Summary: Unless a local ordinance provides otherwise, delinquent real property taxes must be collected through the annual foreclosure proceedings (Sec. 29.45.320, Sec. 29.45.360). Foreclosed properties are transferred to the municipality (Sec. 29.45.390) for the lien amount, which must retain the properties for at least a one-year redemption period (Sec. 29.45.400). Unredeemed property in the area of the borough outside all cities is deeded to the borough by the clerk of the court (Sec. 29.45.450). Unredeemed property in a city is deeded to the city subject to the payment by the city of unpaid borough taxes and costs of foreclosure levied against the property before foreclosure. After that, the local borough has the option of retaining the property for public use or selling it (Sec. 29.45.460).

Law: Alaska Statutes, Title 29, Chapter 45, Article 2, "Enforcement of Tax Liens."

Contact: Contact City or Borough Tax Collector.

Interest Rate: Not applicable to the investor, because there is no right to redeem following a sale of foreclosed property.

Auction Type: Tax Deed (Sec. 29.45.460).

Bidding Procedure: Bidding procedures are not specified by the state statutes.

Costs: Costs and fees payable by the purchaser at a tax sale are not specified by the state statutes.

Redemption Period: Properties transferred to the municipality are held by the municipality for at least one year. During the redemption period a party having an interest in the property may redeem it by paying the lien amount plus penalties, interest, and costs, including all costs incurred under AS (29.45.440) (a). Property redeemed is subject to all accrued taxes, assessments, liens, and claims as though it had continued in private ownership. Only the amount applicable under the judgment and decree must be paid in order to redeem the property. (Sec. 29.45.400). (a) The record owner at the time of tax foreclosure of property acquired by a municipality, or the assigns of that record owner, may, within 10 years and before the sale or contract of sale of the tax-foreclosed property by the municipality, repurchase the property. The municipality shall sell the property for the full amount applicable to the property under the judgment and decree plus

(1) interest not to exceed 15 percent a year from the date of entry of the judgment of foreclosure to the date of repurchase;

(2) delinquent taxes assessed and levied as though it had continued in private ownership;

(3) costs of foreclosure and sale incurred by the municipality; and

(4) costs of maintaining and managing the property incurred by the municipality including insurance, repairs, association dues, and management fees, that exceed amounts received by the municipality for the use of the property.

(b) After adoption of an ordinance providing for the retention of tax-foreclosed property by the municipality for a public purpose, the right of the former record owner to repurchase the property ceases (Sec. 29.45.470).

Deed Assigned at Foreclosure to: (Sec. 29.45.460 (a) ) Unredeemed property in the area of the borough outside all cities is deeded to the borough by the clerk of the court. Unredeemed property in a city is deeded to the city subject to the payment by the city of unpaid borough taxes and costs of foreclosure levied against the property before foreclosure. The deed shall be recorded in the recording district in which the property is located.

(b) Conveyance gives the municipality clear title, except for prior recorded tax liens of the United States and the state.

(c) If unredeemed property lies in a city and if the city has no immediate public use for the property but the borough does have an immediate public use, the city shall deed the property to the borough. If unredeemed property lies in the borough outside all cities and if the borough does not have an immediate public use for the property but a city does have an immediate public use, the borough shall deed the property to the city.

(d) A deed is not invalid for irregularities, omissions, or defects in the proceedings under this chapter unless the former owner has been misled so as to be injured. Two years after the date of the deed, its validity is conclusively presumed and a claim of the former owner or other person having an interest in the property is forever barred. The municipality or borough may then sell the property if it is not required for a public purpose.

Notes:

Counties:

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