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Last updated on Tuesday, October 6, 2015
(BEDFORD) - Lawrence County officials held their annual delinquent property tax sale netted $442,297 from 310 properties paid prior to and at the sale on Sept. 30.
The property tax sale is required to be held in each county for those properties where real estate owners fail to pay the property taxes from the prior year's first property tax bill installment. A tax lien on the property may be sold to satisfy the tax obligation to the highest bidder.
The owners of the properties sold at the sale have one year to pay the delinquent property taxes, costs and penalties to keep the property.
The sale is conducted by Indianapolis-based SRI Incorporated on behalf of Lawrence County, County Auditor Jody Edwards and County Treasurer Paula Stewart.
This year's tax sale resulted in the collection of $442,296.57 from owners and buyers of 310 parcels. All taxes, penalties and costs were paid in full.
"Tax sales are a necessary function of county government," Stewart added. "It is only fair to the people who pay their property taxes every year to pursue those that do not pay."
From the 81 properties that did not sell, the county commissioners acquired a tax lien. The commissioners can now offer those properties to the public at a sale at a later date.
"It is our ultimate goal to return these properties to the tax rolls as quickly and efficiently as possible," Edwards says. "Property owned by the people that pay their property taxes ensure our local government services are fully funded."
For more information on property tax sales visit www.sri-taxsale.com
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