St. Louis County Makes $805,000-Plus In Recent Land Auction
A recent tax-forfeited land auction was very profitable for St. Louis County - both in net sales and in the future potential income from property taxes. The auction that was held on Thursday, October 8 netted the county $805,032 in total sales for the day.
In total, 42 of the 60 tax-forfeited properties up for sale were sold. Included in the sale were multiple houses, a commercial building, and a cabin. According to information released by St. Louis County, two properties that previously had included blighted structures that were removed were also sold. And if that wasn't enough, the land auction even included the sale of a small island in Lake Vermilion.
This most-recent tax forfeited land auction was held entirely online - due to COVID-19 precautions. This marked the second-such online tax forfeited land auction held by the county this year; an earlier auction in June was held in a similar manner. According to St. Louis County officials, the results of this October auction were very successfull in fact, the results were far better than what is typically seen in a live auction - with 70% of the properties offered up for sale actually going to a winning bid. Earlier this year, the county made their first online auction offering (as part of a hybrid) in January.
The remaining properties that were not sold off during this October auction will now be available for sale on a first come - first served basis. Interested parties are asked to direct their contact through the St. Louis County Land and Minerals Department. There are currently about 150 properties currently available for sale. Click here to see an online catalog.