(BEDFORD) – The Tax Sale this morning at the Lawrence County Courthouse netted more than $3 million.
Property owners must be at least three installments delinquent for the property to be listed in the sale.
The tax sale began at 10 a.m. with 35 bidders, who bid on 108 parcels up for sale. 35 parcels did not sell.
Prior to the sale there were 349 parcels with a total of $757,577.01 in delinquent property taxes.
“I am super pleased in the turnout with local buyers and investment buyers showing up at today’s sale,” said Lawrence County Treasurer Paula Stewart. “I feel like the surplus collection is much higher than previously, thanks to investment buyers.”
Today’s tax sale results:
- 73 parcels sold at the sale
- $96,988.22 taxes collected
- $3,003,799.26 in surplus
- 35 parcels did not sale
This is the highest amount collected since 2010, when 159 parcels sold and $319,899.41 in taxes were collected. $1,181,977.51 in surplus was collected and 96 parcels did not sell.
Those bidding on the properties are expected to pay cash the day of the sale or present certified funds.
The delinquent property taxpayers have one year to pay the property taxes and penalties to redeem their property. If the homeowner can’t pay the liens, the new lien owner can foreclose on the property.