Delinquent properties totaled 425 as of Thursday for the 2016 La Plata County tax lien sale, reflecting a 10 percent increase compared with 2015, when 381 properties went to auction.
The 425 properties equate to $389,000 in outstanding taxes. The tax amount and number of properties fluctuate year to year.
The list will remain in flux until the Nov. 15 sale, and County Treasurer Allison Aichele expects another 100 properties to have their taxes paid off before then.
“The advertising works,” she said.
The largest amount owed, $15,540, is on a downtown property at 530 Main Ave. The listed owner could not be reached. Less than $200 is owed on most delinquent properties.
A tax lien sale allows investors to purchase tax liens on properties with delinquent taxes, giving the owner time to pay back the loan to the lienholder. Meanwhile, the taxes collected boost the county general fund. Last year’s sale, which attracted 42 bidders, generated $40,000.
In 2014, 84.5 percent of 420 bid properties were sold, compared with 89 percent of 381 properties last year. Investors paid 50.5 percent more in 2015 than in 2014.
Liens that aren’t sold continue to accrue fees and interest on the unpaid taxes.
This year’s sale is the second hosted exclusively online.
“It went well,” Aichele said. “We collected more money, sold more properties, and more premiums went directly into the general fund.”
Listed property owners have until noon the eve of the sale to pay their taxes and keep their taxes, penalties and interests from going to bid.
Once their tax liens are sold, property owners have three years to pay their debt to investors, or investors can apply for a deed to the property. Aichele said fewer than 1 percent of bid properties reach that threshold.
Bidders have until Nov. 8 to register for the auction, which will be held from 10:30 a.m. to 5 p.m. Nov. 15. Both registration and bidding is done online at www.laplata.coloradotaxsale.com.
jpace@durangoherald.com
