Held Friday at the Court House
Campbell County held its annual delinquent property tax sale on Friday and a courtroom filled with bidders purchased the majority of properties that were offered. Clerk and Master Dennis Potter tells WLAF that total collections on 71 parcels was $204,801.16.
Potter explains that Campbell County does a good job of collecting taxes. However, Friday’s annual auction is a way to collect what little outstanding property tax dollars remain.
Those properties that were sold on Friday had to receive at least a minimum bid representing the overdue taxes, penalties and interest. Potter adds that the annual auction requires a lot of preparation.
The remainder of the sales amount is the “overbid” and by law goes to the original owners of the delinquent property. The original owners also have a one-year grace period to redeem their property for the amount owed to the county or city, but must also pay the successful bidder a ten percent fee on the bid price. (WLAF NEWS PUBLISHED – 05/07/2018-6AM)