All tax sale certificates struck off to municipality are at what percentage?

Study for the Tax Collection Exam with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

Multiple Choice

All tax sale certificates struck off to municipality are at what percentage?

Explanation:
When a tax sale certificate is struck off to the municipality, the delinquent amount carries an 18% annual interest. This rate is added to the amount owed from the date of sale until redemption, so the total a property owner must pay to recover the property includes the 18% per year interest along with the back taxes and penalties. The other percentages don’t apply to this scenario, which is why 18% is the correct rate.

When a tax sale certificate is struck off to the municipality, the delinquent amount carries an 18% annual interest. This rate is added to the amount owed from the date of sale until redemption, so the total a property owner must pay to recover the property includes the 18% per year interest along with the back taxes and penalties. The other percentages don’t apply to this scenario, which is why 18% is the correct rate.

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