Lucky Investors Can Find Bargains At County's Online...
Source: azcentral.com web site
In a truly silent auction, Maricopa County recently concluded a series of online tax lien auctions that generated $17.5 million for county tax districts and gave hope of a windfall payoff to a handful of investors. Maricopa County Treasurer David Schweikert said one tax lien investor in a previous auction foreclosed on a 15-foot strip of land near 56th Street and Thomas Road for a $1,200 tax delinquency. A home builder ultimately needed the strip of land for his project and paid $100,000...
Copyright © 2006, azcentral.com. All rights reserved.
Read more > Posted on: March 3, 2006
Treasurer looks forward to Internet only tax lien sale
Training on system being offered today
Special to the Reminder
"It's exciting," says Pinal County Treasurer Dodie Doolittle as she looks over the computer screen that holds future tax lien property that will be up for grabs on Tuesday, February 21 and Wednesday, February 22.
The tax lien sale is a yearly event held by the Treasurer's Office which places the amount of taxes owed on a property for the previous tax year up for sale. The auction will offer the tax lien only and potential bidders will offer a percentage (up to 16 percent of the amount owed) on the tax lien.
This year will be the first time that Pinal County has held the auction by Internet only.
"Mojave County did it last year," Doolittle said. "They experienced a slight increase in bidding. The reason why we are doing this is for the convenience for those who would like to bid. At times we would see people come from all over the country to bid for these tax liens. This time they can stay at home to bid."
The properties will be broken up into four categories over a two-day period. Bidding on the first group of properties will begin on February 21 at 8 a.m. and will close at noon. The entire auction will end on February 22 at 5 p.m. To register as a bidder, a refundable deposit of $500 is required. If a tax lien is acquired, the deposit will be used to help pay for the winning bid.
Treasurer Doolittle and her staff are offering training in Florence for the Internet system today. To schedule an appointment to see how this new system will work, please call 866-6434.
While other counties have paid a fee to use an outside company's program to auction off tax liens, the Treasurer's staff brainstormed and came up with a program in-house. "This is saving the taxpayers a lot of money in the end," Doolittle said. "Our staff here Maureen O'Connell and Fran Denoncourt worked together to develop a program that fits our needs and the buyers' needs."
In looking over the program, Doolittle said the 2006 list of tax liens is one of the smallest she has seen in a long time. "That means people are paying their taxes," she said.
©Casa Grande Valley Newspapers Inc. 2006. All rights reserved.
Read more > Posted on: February 16, 2006
Online Tax Lien Auction Thrills County Officials
Source: azcentral.com web site
Maricopa County pulled in an estimated $17 million in back taxes and cleared more than 13,000 tax liens from its books during its first online tax lien auction. "It looks like it met all our hopes and dreams," county Treasurer David Schweikert said of the auction, which closed Monday. The county sold 86.4 percent of the liens offered in the 18-day auction, compared with a 74.5 percent clearance rate last year. Schweikert and Dave Browning, the ...
Copyright © 2006, azcentral.com. All rights reserved.
Read more > Posted on: February 15, 2006