Steuben County’s first online-only Delinquent Real Property Auction from June 15-22 was a notable success, netting a total of $1.5 million, county Finance Deputy Commissioner Mitch Alger reported recently.
The week-long auction of 99 parcels brought in a total of $2.4 million and recovered slightly more than $847,000 in back taxes, with the remainder appropriated into the county’s General Fund, he said.
“There were a comparable number of properties,” Alger told the county Legislature’s Finance Committee. “We had more bidders and the market for real estate is a big factor.”
He credited the length of the auction and ease of placing bids since bidders were not required to wait in person until a property was introduced during a day-long, on-site auction.
The auction also attracted some out-of-county bidders although those participants had county ties, he noted.
The success of the online auction bodes well for the county’s second real property auction expected to be held within the next few months, with roughly the same number of properties up for bid, Alger said.