St. Louis County held its third auction of the year in an effort to return tax forfeited properties back to the property tax base, and the results are the best in recent memory. Out of 78 properties listed for sale, 30 sold for a total of $745,650.
Among the properties purchased at last Thursday’s auction include two buildable lots on or near Boundary Avenue that had once been considered for a possible development. The lots had been assessed at $12,000 and $18,000 respectively, but ultimately were sold for $165,000 and $30,000. Additionally, four homes were purchased in Rice Lake, Chisholm, Eveleth and Angora, and a commercial property in Gilbert was purchased.
Parcels not purchased at the auction are now available for sale on a first-come, first-served based through the St. Louis County Land and Minerals Department.
The County expects to offer three more tax-forfeited land auctions in 2018, though dates have not yet been approved.