St. Louis County Forfeited Land Auction Nets $360,000 And Future Tax Income
The Tax Forfeited Property Auction on Thursday was a win-win for both the successful bidders and St. Louis County taxpayers. In all, 25 properties sold for a total of $360,000 raised.
70 parcels went up for bid at the auction that was held at the AAD Shriner's Center in Hermantown. Of those listed, the remaining parcels will go up for purchase on a first-come, first-served basis through the St. Louis County Land and Minerals Department.
Looking at the results of the auction can be deceiving for the uninitiated; while $360,000 might seem like a low result for 25 properties (averaging about $14,000 apiece) - the total sale doesn't reflect the true benefit for St. Louis County. The benefit is the long-range collection of taxes as the parcels regain their place on the tax rolls.
To see an online catalog of the listed properties - including those that remain, click here.