LITTLE ROCK – The recent auction of tax-delinquent properties in Montgomery County raised over $163,000, the Commissioner of State Lands announced.
The auction drew 40 bidders, who purchased 11 of the 12 available parcels for a total of $163,966.40 for county and state government.
The Land Commissioner’s office holds one auction in each county each year to return tax-delinquent property to active status. Since Covid-19 forced the cancellation of 2020 auctions and delayed 2021 auctions, this year’s auctions offer two years’ worth of properties.
“Just a small portion of property certified to our office goes to auction,” Commissioner Tommy Land said. “The vast majority of owners redeem their property by paying the delinquent taxes. Of course, we always prefer that property be redeemed, but it is vital that the parcels return to the county’s active tax rolls.”
The COSL office forwards taxes and interest to the county, whether that money is collected through redemption or sale.
“Last year, this office sent more than $16 million to school districts and county governments,” Land said. “Of that, $24,706.07 went to Montgomery County, helping fund everything from roads to schools.”
Property owners have 10 business days to redeem parcels that were sold at auction. This can be done online at www.cosl.org, using a credit or debit card, or owners can call 501-324-9422 to request a Petition to Redeem.
If a parcel is not redeemed within 10 business days of being auctioned, the COSL will issue a Limited Warranty Deed to the buyer.
Property that did not sell at the public auction will be available after 30 days and can be purchased through an online auction by viewing the Post-Auction Sales List at www.cosl.org.