Twelve foreclosed properties, assessed at more than $637,000 total, will be auctioned off Saturday as Genesee County attempts to recover unpaid taxes on them.
In all, the county would need to yield at least $102,830 from the auction to recover all of the unpaid taxes.
The properties include six single-family residences and range in lot size from .12 up to nearly 20 acres.
Here's a complete list of available properties:
- 7016 Macumber Road, Alabama, mobile home, .46 acres; Assessed, $48,200; Taxes owed, $3,778.70.
- 10 Edgewood Drive, Batavia, single-family residence, .61 acres (and neighboring parcel); Assessed, $185,000; Taxes owed,$33,938.61.
- Pearl Street Road, Batavia, vacant lot, .28 acres; Assessed $1,300; Taxes owed $694.41.
- 7521 Mechanic St., Byron, single-family residence, .53 acres; Assessed $30,000; Taxes owed, $5,508.57.
- 11036 South St. Road, Pavilion, single-family residence and out buildings, .06 acres; Assessed $56,800; Taxes owed $1,150.60.
- 8562 Lake Road, Pembroke, residence with small improvements; Assessed $20,000; Taxes owed $2,019.39.
- Alleghany Road, corner of Cohocton, Pembroke, 10 acres, rural vacant lot; Assessed $6,300; Taxes owed $994.97.
- 6128 Sweetland Road, Stafford, 19.77 acres with buildings; Assessed $37,300; Taxes owed $8,101.81.
- 103 Lake St., Le Roy, single-family residence, 2.3 acres; Assessed $72,400; Taxes owed $12,820.58.
- 21 Lake St., Le Roy, single-family residence, 5.6 acres; Assessed $88,900; Taxes owed $14,343.02.
- 5 Pleasant Ave., two-family residence, .12 acres; Assessed $31,000; Taxes owed $11,124.13.
- 34 N. Pearl St., Oakfield, single-family residence, .15 acres; Assessed $60,300; Taxes owed $8,358.20.
The auction begins at 10 a.m., Saturday, March 5, at Bontrager's Auction Center, 8975 Wortendyke Road in the Town of Batavia.
How does this work? Let's
How does this work? Let's take the 10 Edgewood address, if you get it at auction for $134k, the county gets it's 34k in back taxes and 100k profit. Are the town and school taxes included in the 34k of county back taxes. Is there other lein holders, such as a mortgage company? What does the county do with the 100k profit?
County Treasurer Scott German
County Treasurer Scott German e-mailed this response:
"In the example 10 Edgewood, the $34,000 in back taxes does include city school, county, town, fire district, and sewer and water relevies. All these jurisdictions have been paid for there outstanding taxes/charges by the county in the year the tax/charges were turned over to the county as unpaid.
During the In-Rem foreclosure process, all lienholders are given a minimum of 90 days of written notice of the pending foreclosure to protect their interest in the property. All lienholders have the right to pay the outstanding taxes and then foreclose on the property themselves. Once the final date of redemption (last day to pay) goes by and once the county takes title, all outstanding liens on the property are extinguished with the exception of an IRS lien. The IRS has 120 days to redeem the property from the date of the county auction. Should the IRS choose to redeem the property, the IRS will pay the purchaser the amount the buyer paid the county for the property and take title. In the case of 10 Edgewood, all non federal outstanding liens have been extinguished and there are IRS liens on the property.
For the final question of what does the county do with the profit? Since this year there are twelve properties, it is very possible that the county will make a profit on some parcels and lose on others. If the county were to make $100,000 profit on all the parcels combined, this amount would close to our fund balance and could be used by the legislature the following year to help maintain the tax rate which benefits all taxpayers in the county. There have been years where the county has lost money selling properties at auction which has a negative impact on the county's fund"
Thanks, Howard!!
Thanks, Howard!!
Thank Scott. He volunteered
Thank Scott. He volunteered the information.
ok, Howard,....Thank You,
ok, Howard,....Thank You, Scott