The Montgomery County Treasurer’s Office conducted a public auction on Friday, Oct. 23, of properties that had at least three years of real property taxes overdue, and the auction brought in $530,627 from the 40 parcels sold, according to County Treasurer Helen St. Clair.
The highest price paid for a parcel was $100,000 for a property on Oliver Street that was assessed for tax purposes for $122,300.
In many cases, the record owners of the property were deceased, and the heirs had reached no consensus about paying the taxes and redeeming the property.
The sale included 12 properties sold through a non-judicial sale, which allowed for prompt conveyance of title to the high bidders. The 28 properties sold in the judicial sale require further approval and confirmation by the Montgomery County Circuit Court before deeds can be issued and recorded. The funds left over after paying the taxes, the fees and the costs of the sale will be held by the circuit court for two years, during which the funds can be claimed by the property owners or their heirs. If the funds are not fully claimed, the remaining excess proceeds will be deposited into the county’s general fund.
“Almost all of the judicial sale properties that sold went for significantly more than the county’s taxes and the costs of the sale,” said St. Clair.
The sale was conducted by Linkous Auctioneers in the Montgomery County Board Room with 44 bidders attending and observing appropriate social distance strictures. The auction, held by Taxing Authority Consulting Services (TACS), a law firm that focuses its practice on representing local government, was simulcast for Internet bidding, which drew more than 70 additional bidders.
“It was great that we were able to have so many people participating on-line,” St. Clair said.
St. Clair and TACS plan to conduct another sale of eligible properties in the spring.