A tax sale of delinquent Putnam County properties was held on Wednesday.
The sale was organized by Putnam County Auditor Stephanie Campbell and Putnam County Treasurer Sharon Owens.
A property tax sale is required to be held in each Indiana county for those properties of which an owner has failed to pay the property taxes from the prior year's first property tax bill installment.
The property may be sold at the property tax sale to satisfy the tax obligation, and is to be sold to the highest bidder.
The owners of the properties sold at the property tax sale have one year to redeem the delinquent property taxes, costs and penalties to keep the property.
The sale, conducted by Indianapolis-based SRI Inc. on behalf of Putnam County, offered 412 parcels to 37 bidders.
SRI conducts similar auctions in 78 counties in Indiana and also in Florida, Michigan and Colorado.
This year's sale resulted in the collection of $743,942.91 in delinquent property taxes from owners and buyers. Four hundred thirty-five parcels had all delinquencies, penalties and costs paid in full.
"Tax sales are a necessary function of county government," Owens said. "It is only fair to the people who pay their property taxes every year to pursue those who do not pay."
The Putnam County Commissioners will acquire liens on the 348 properties that did not sell at the tax sale.
The commissioners may offer those properties for sale to the public at a later date.
"It is our ultimate goal to return these properties to the tax rolls as quickly and efficiently as possible," Campbell said. "Property owned by people that pay their property taxes ensures our local government services are fully funded."
For more information on property tax sales, visit SRI's Web site at sri-taxsale.com.