All unpaid property taxes are read aloud. After reading of the property, buyers bid for a portion of ownership on the property. By law, the Sheriff accepts bids on an interest in the property starting off at 100% interest and graduating downward until the lowest bid of 1% is received. The Buyer that gets the bid will cover the taxes, interest and costs that are due. The buyer must pay by cash or check when the tax sale is completed. Within a few working days, a tax sale deed is prepared and filed with the Clerk of Court and a copy is mailed to the buyer.” Any unsold property will revert to the parish. The owner has 3 years to redeem and must pay 12 % per annum plus a 5% penalty.
If the lien is redeemed, the purchaser need not do anything; the “tax sale deed” is cancelled with the clerk of court by the tax office. The tax office will simply send the purchaser the redemption money. If the lien is not paid within the 3-year redemption period, the property will revert to the lien holder, but in order obtain a deed to the property, legal notices must be given. You will need an attorney to give the proper notices and draw up a proper deed to the property.
