County’s property tax-foreclosure auction scheduled for Thursday
A variety of parcels throughout Oneida County will be sold at the county’s property tax-foreclosure auction Thursday.
As of Tuesday, 36 parcels taken for unpaid property taxes were on the list to be auctioned off to the highest bidder starting at 6:30 p.m. in the legislative chamber on the 10th floor of the County Office Building, 800 Park Ave., Utica. The number could shrink by the time the sale starts because properties can be redeemed right up to just before bidding starts.
In Rome, five parcels are slated to be sold. There are two commercial properties (612 S. James St. and the former Columbus School at 112 Columbus Ave.), one residential property (301 Kossuth St.), and two vacant ones (both on Passer Road in the Rome outside district, no street numbers given).
At the time of the auction, highest bidders must sign a memorandum of agreement stating that they are not acting on behalf of the former owners. Successful bidders are prohibited from selling the property to the former owner for five years.
If the highest bid on the property is more than $5,000, the winning bidder will be required to deposit 30 percent of the offer at the time of the auction, with the balance and deed recording fee due 15 days after the auction. In the event that the highest bid is $5,000 or less, the full amount of the bid and a minimum $185 deed recording fee for a home must be deposited at the auction. A minimum deed recording fee of $310 will be due for vacant or commercial property.
Winning bids must be approved by the Board of Legislators after the sale.
More information about the sale is available online, ocgov.net.
The county holds several land auctions annually. It received a total of $423,590 in bids on 51 tax-delinquent parcels at the March sale.
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