From the Shelbyville News:
Properties that have been seized due to unpaid taxes could find themselves on the auction block soon.
At Monday’s Shelby County Commissioners meeting, the board voted 3-0 in favor of conducting a live Commissioners’ Certificate Sale with a timeframe of the end of February, early March.
In addition, the commissioners voted 3-0 in favor of making the minimum bid $100.
At the meeting, Alex Bruggenschmidt, legal counsel for SRI Incorporated, spoke to the commissioners about the process of auctioning off the properties. He said the commissioners would have to pass a resolution to pass the properties, decide on the format - live or online - and set a minimum bid based on the property value and the amount of taxes to be paid.
The auctions would be “certificate sales,” and the buyer would officially be recognized as the owner, but would still need to go through the process of obtaining the deed.
The county also can keep the properties or sell them to other government entities if they choose.
The commissioners currently own 32 properties with an outstanding liability of $515,000.
“The commissioners have the option of what to do when properties don’t sell,” Bruggenschmidt said.
Bruggenschmidt said SRI, the Shelby County Auditor’s office and the Shelby County Treasurer’s office would all work together for the sale.
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http://www.shelbynews.com/articles/2013/12/10/news/doc52a637a02505b655662723.txt
