ADVERTISEMENT
County auction to yield $15,500
UNPAID TAXES: Other parcels repurchased for $36,000 before sale
By STEVE VIRKLER
TIMES STAFF WRITER
TUESDAY, MAY 20, 2008

LOWVILLE — Lewis County officials expect a $15,500 profit from last week's annual tax auction.

"All in all, it was a comfortable auction," said county Treasurer Vicki A. Roy of the approximately half-hour event held Wednesday at the Lowville Elks Lodge on Shady Avenue.

At the county's fourth annual tax auction, conducted by Haroff Auction & Realty Inc., Schroon Lake, six parcels sold for a total of $25,750. Administrative and auctioneer's fees were tacked on to the winning bids.

Owners of the auctioned parcels — two in the town of Turin and one each in Croghan, Lowville, Osceola and Watson — owed the county $10,237.21 in back taxes. That leaves an expected net gain of $15,512.79.

The county also made about $36,000 on foreclosed parcels that were repurchased prior to the auction, Mrs. Roy said.

So, between auctioned and repurchased properties, the county has apparently covered the $50,000 in projected tax auction revenues included in its 2008 budget.

To redeem their parcels, owners had to pay all delinquent taxes, penalties and fees from both January 2006 and 2007, plus an extra 10 percent of that amount as an auctioneer's fee and 5 percent of the parcel's full value. County revenues stem from the latter, 5-percent fee.

Unlike in past years, none of the auctioned parcels apparently included homes that were occupied on a full-time basis, Mrs. Roy said. "It was a good feeling," she said.

The county's inaugural auction in 2005 featured 62 properties, followed by 18 in 2006 and 16 last year.

"As usual, Haroff did a professional job," Mrs. Roy said. "We're very pleased."

The treasurer suggested prior owners of the auctioned parcels remove any personal items within 30 days, before the new owners take title.

The highest bid at Wednesday's auction was $7,000 for a seasonal cottage on 2.3 acres on North Osceola Road in the town of Osceola, while the lowest high bid was $50 for a small, two-story attached row commercial building on East Main Street in Turin.

ARTICLE OPTIONS
CHANGE TEXT SIZE: A A A
PRINT THIS ARTICLE: Printer-Friendly Version
SHARE IT:
MORE LEWIS COUNTY NEWS
7-DAY STORY SEARCH
ADVERTISEMENTS