Chesterton Tribune

 

 

County Tax Sale collects $6.4 million; $859K to be returned to taxing units

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Porter County officials held their annual delinquent property tax sale this week on Tuesday, resulting in the collection of $6,407,134.96 from owners and buyers.

That is more than $3.5 million that was collected in 2012.

The original list of delinquent properties certified by County Auditor Robert Wichlinski and Treasurer Mike Bucko earlier this year contained 1,198 properties with a total amount due of $9,424,031.

There were 637 properties that paid prior to the sale generating a total of $5.5 million and 75 properties removed for cause prior to the sale, resulting in 486 properties being offered at the sale to 77 bidders.

The number of properties sold at Tuesday’s sale was 184 and spurred at minimum bid of $883,835. The total buyer amount paid was $7.059 million leaving a surplus collected of $6.1 million.

Surplus amounts can be redeemed by the delinquent property owners within the one year redemption period. They will have to pay the lien buyer the minimum bid amount plus an additional ten percent within the first six months and 15 percent through the second six months.

The 302 properties not sold at the sale will have their tax lien acquired by the Porter County Commissioners who may offer those properties at a sale at later date.

Wichlinski said from the sale, the County netted $859,545 from back taxes and penalties which will be distributed to the respective governing units such as county government, municipal governments and schools in December by his office.

A property tax sale is required to be held in each Indiana county for those properties where an owner of real estate fails to pay the property taxes from the prior year’s first property tax bill installment. A tax lien on the property may be sold to satisfy the tax obligation to the highest bidder.

Conducting the sale again this year was SRI Incorporated of Indianapolis whose commission from the county tax sale was $24,290.

For more information on property tax sales, visit www.sri-taxsale.com

 

Posted 10/31/2013