Torrington tax lien auction brings in $147K

Tuesday, July 3, 2018   (0 Comments)
Posted by: Carly Cahur
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TORRINGTON — The city received more than $147,000 in a June 23 property auction sale held to recover delinquent taxes on five properties, according to Tax Collector Launa Goslee.

In the days leading up to the sale, 28 properties came off auction list, she said.

This year’s auction attracted 10 bidders, Goslee said in an email. In an interview in May, she noted that interest from bidders has grown in the last three years. In 2016, there were just three bidders and, by 2017, the number had grown to at least six.

Bidders must provide a $4,000 deposit for each property on which they plan to bid if the delinquent tax amount is more than $4,000. The winning bidder is required to pay the balance of the winning bid within five days.

The total amount due to the city included 2017 Grand List taxes, Goslee wrote in a rules of sale document.

Owners are given a six month window to redeem their property if they meet certain requirements, including the payment of back taxes, accrued interest and an 18 percent per year interest on the winning bid amount.

In late May, the list of properties with delinquent tax accounts contained three limited liability corporations. Goslee said at the time that such business entities tend to own rental property. By the date of the auction, Pulver St. LLC was the only such company listed. It is commercial property with 1.9 acres of land. Records show portions of the clapboard-sided building date back to 1870.

The Northside Drive home is the largest residential property on the list. It has nine rooms and four bedrooms. It sits on a half-acre of land.

Find the original story here.

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