According to a public notice ad found on page 3 of the edition of the Times and in the Public Notice section of this online edition , there are 140 parcels of property with delinquent taxes that could be sold at an auction at the Jackson County Courthouse on Tuesday, Oct. 29, beginning at 10 a.m.
The number of properties is up by 11 from 129 in the 2018 tax sale.
Real estate on which property taxes have not been paid for 18 months are eligible to be offered for sale by the county for back taxes.
During the October auction, properties will be offered for late taxes, special assessments, penalties & interest and auction fees with a minimum beginning bid.
After the auction, the property owners have up to a year to ‘redeem’ or pay the successful bidder for his bid plus interest.
In the first six months, to redeem a property an owner must pay 110% of the minimum bid and 5% per annum for any bid amount over the minimum bid. After six months, the interest goes to 15%.
In this day of less than 1% savings accounts and 2% CD’s, many investors participate in tax sales as a way to earn better returns on their money.
Residents interested in bidding on the tax sale should register online at http://legacy.sri-taxsale.com/Tax/Indiana/Registration/.
Bidders should arrive the morning of the tax sale at least 30 minutes before the beginning time to be assured to receive a bid number before the start of the sale, said Jackson County Treasurer Roger D. Hurt.
Bidders should bring their registration form and W-9 form with them the morning of the tax sale. These forms can be printed from the SRI registration web site, according to Jackson County Auditor Kathy Hohenstreiter.
Residents with property on the delinquent property tax list have until the day of the auction to pay the back taxes and have the property removed from the auction’s sale list.