There are 113 parcels of property in Scott County with delinquent taxes that could be sold at an auction on Friday, Oct. 6, according to a legal notice on page 5 of this week’s print issue of the Crothersville Times and in the Legal Notices section of this on-line edition.
The 113 parcels is an increase from the 65 properties on which delinquent taxes were advertised at the 2022 tax sale.
“This year’s tax sale will be an in-person sale in the county commissioner’s room on the main floor of the county courthouse,” said Scott County Auditor Jennifer Hamelman. The public auction will begin on at 10 a.m. local time on Oct. 6.
Real estate on which property taxes have not been paid for 18 months are eligible to be offered for sale by the county to collect back taxes.
During the October auction, properties will be offered for late taxes and auction fees with a minimum beginning bid.
“After the auction, the property owners have up to a year to ‘redeem’ or pay the successful bidder for his bid plus interest,” according to Scott County Treasurer Missy Applegate.
In the first six months, to redeem a property an owner must pay 10% of the minimum bid and 5% per annum for any bid amount over the minimum bid. After six months, the interest goes to 15%.
In this day of less than 1% savings accounts and low interest CD’s, many investors participate in tax sales as a way to earn better returns on their money.
Residents with property on the delinquent property tax list have until the day of the auction to pay the back taxes and have the property removed from the auction’s sale list.
Information on how to register for the tale sale, conducted by SRI Inc., can be found in the legal notice.