Land Auction Nets St. Louis County Nearly $600,000
Successful would be one word to describe the land auction held by St. Louis County on February 9. 19 different properties were sold to the highest bidders, netting county coffers nearly $600,000 to the bottom line.
The auction was one of the largest held by St. Louis County in a long time - both in terms of total properties available and in registered bidders. More than 180 people registered in advance of the sale to be on hand to place their bids on these land parcels that had been returned to the counties roster.
And while the county reaps the proceeds from the sale price, the actual long-term value is in the property tax futures that each parcel of land represents. The 19 properties will now be returned to private ownership which places them back on the tax registers; St. Louis County taxpayers can now expect to see the yearly tax payments contributing to the counties budget.
County officials have two more auctions planned for 2017. The next one will happen in June, with an additional sale planned for October.