St. Louis County Nets $1.25 Million In Latest Tax Forfeited Land Auction
Any way you look at it, it was a productive sale. The most-recent Tax Forfeited Land Auction held by St. Louis County just wrapped up and netted the county's budget nearly $1.25 million in sales. Those land parcels that are now back in private ownership will also garner additional income in the years to come as their property taxes get collected each year.
At the same time, the new owners of the 33 properties that sold during the online auction achieved their purchases with some incredible deals. The majority also allowed existing owners the unique chance to add adjoining land to their parcels. According to the details released by St. Louis County, "(n)early half were purchased by adjoining owners or others in the vicinity."
As far as pricing and competition goes, the auction appears to have been a win-win for both the county as the seller and for individual buyers: "Seventeen properties had competing bids resulting in sales above the original listing price."
Similar to the tax forfeited land auctions that the county has held in the past, a wide variety of different parcel types were represented in the sale. This particular auction featured a variety of properties - including recreational land, buildable lots, waterfront property, and more. Properties that were sold during this auction include 12 lots that had been cleaned up and structured razed, a home in Virginia, three lakeshore lots, and two parcels that include rivers or streams that pass through them.
Even as these 33 parcels were sold and the online, open portion of the auction is over, there are still opportunities for the general public to get a great deal on some land. About 50 properties remain unsold. Those lots are listed for sale on a first come-first served basis.
Additional tax forfeited land auctions will be held in the future. Traditionally, St. Louis County offers new tax forfeited properties for sale by auction three times each year. The next auction will happen in June with another one to follow in October.
According to officials from St. Louis County, there are "nearly 900,000 acres of tax forfeited land", which the Land and Minerals Department is responsible for managing. Most of the land is maintained for resource management, however, the County is tasked to sell parcels that aren't planned for management as a way to encourage development and increase the property tax base.