LITTLE ROCK – The recent auction of tax-delinquent properties in Logan County raised over $56,000 the Commissioner of State Lands Tommy Land announced last week.
The auction drew 33 bidders, who purchased all 14 of the available parcels for a total of $56,600.00 for county and state government.
The Land Commissioner’s office holds one auction in each county each year to return tax-delinquent land to active status.
“Most property certified to our office does not go to auction,” Commissioner Land said. “The vast majority of owners redeem their property by paying the delinquent taxes. Of course we always prefer that property be redeemed, but it is vital that the parcels return to the county’s active tax rolls.”
Delinquent owners have 10 business days after the auction date to redeem the property, before the COSL office issues a Limited Warranty Deed to the buyer.
The COSL office forwards taxes and interest to the county, whether that money is collected through redemption or sale.
“Last year, this office sent more than $16 million to school districts and county governments,” Land said. “Of that, $56,525.10 went to Logan County, helping fund everything from roads to schools.”
Property that do not sell at auction will be available after 30 days and can be reviewed through the Post-Auction Sales List at www.cosl.org.