LITTLE ROCK – The recent auction of tax-delinquent properties in Montgomery County raised over $78,000, the Commissioner of State Lands announced.
The auction drew 29 bidders, who purchased 9 of the 9 available parcels for a total of $78,250.00 for county and state government.
The Land Commissioner’s office holds one auction in each county each year to return tax-delinquent land to active status.
“Most property certified to our office does not go 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.”
Delinquent owners have 10 business days after the auction date to redeem the property, before the COSL office issues a Limited Warranty Deed to the buyer.
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, $26,943.99 went to Montgomery County, helping fund everything from roads to schools.”
Property that did not sell at auction will be available after 30 days and can be reviewed through the Post-Auction Sales List at www.cosl.org.
Article submitted by Commissioner of State Lands office
