A total 94 properties were auctioned during this week’s Luzerne County free-and-clear, back-tax auction, said Sean Shamany, of county tax-claim operator Northeast Revenue Service LLC.
The purchases generated $1.04 million, including realty transfer tax, Shamany said.
Most starting bids were under $2,000 to cover auction processing and transfer taxes because liens and other back taxes are forgiven at final-stage auctions.
Proceeds from purchases higher than the minimum bid will be distributed to the county and applicable municipalities and school districts as partial payment of back taxes owed. In some cases, competition drove purchase prices above the amount of taxes owed, which means taxing bodies will recover full payment, according to Shamany.
Another 60 properties did not sell and will advance to the repository, where they remain in limbo and available for purchase at any time.
Several successful bidders failed to pay for their purchases the day of the sale Thursday, which means they will be blacklisted and unable to bid in future sales, Shamany said. These properties will be relisted at a future auction.
Find information on auctions and repository properties at www.luzernecountytaxclaim.com.
