INDUSTRY NEWS: INDUSTRY NEWS

County tax auction nets record sum

Wednesday, August 8, 2018   (0 Comments)
Posted by: Carly Cahur
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Washington County netted $757,450.65 in this year’s tax sale auction – a record sum.

“This would be the highest-grossing auction held,” said county treasurer Al Nolette.

Comparatively, Washington County netted $305,670 in 2017 and only $152,419.20 in 2016. In more than 10 years the next-highest grossing sale was in 2006 when $473,904.47 was garnered by the county.

The annual sale was held on July 28 at the county municipal building in Fort Edward. Sold to the highest bidder were 46 tax-delinquent properties consisting mostly of homes, with a smattering of businesses and vacant lots.

This record year was due in large measure to the purchase of a Kingsbury property by a Granville business owner. The property, at 2323 State Route 149, was on the block for $135,971.78 in back taxes, and 19-23 West Main Street LLC scooped up the property for the hefty sum of $506,381.46.

That amounted to 39.7 percent of the total bids at this year’s auction.

Read the original story here


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