County tax sale results in total of $478,686.97
On Sept. 12, Putnam County officials held their annual delinquent property tax sale.
The tax sale, organized by Indianapolis-based SRI Inc., on behalf of Putnam County, offered 257 parcels to 35 bidders.
This year's tax sale resulted in the collection of $478,686.97 from owners and buyers. In total, 217 parcels had all taxes, penalties and costs paid in full.
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. The owners of the properties sold at the tax sale have one year to pay the delinquent property taxes, costs and penalties to keep the property.
"Tax sales are a necessary function of county government," County Treasurer Sharon Owens said. "It is only fair to the people who pay their proper taxes every year to pursue those that do not pay."
For the 201 properties that did not sell, the county commissioners acquire a tax lien. The county commissioners may offer those properties to the public at a sale at a later date.
"It is our ultimate goal to return these properties to the tax roll as quickly and efficiently as possible," County Auditor Stephanie 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-taxsale.com.