Tax lien sale nets $7.1 million for county

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The county Treasurer’s office annual tax lien sale last week sold 3,684 tax liens and recovered $7.1 million in owed taxes.

That compares to 3,145 liens and $4.8 million last year.

The sale also generated bonus bids totaling $61,646, which can be used to support ongoing county services.

This year’s strong results – with net proceeds up 33 percent compared to last year – could signal that some cash-rich investors are eager to pay for the possibility of acquiring the tax lien properties, held unredeemed for the three-year redemption period.

Worst case, such an investment earns 10 percent annual interest.

“The fact that we had so many more tax liens available for this year’s sale is probably a sign of the times,” El Paso County Treasurer Sandra Damron said.

“It may also be a sign of the times that we had fewer bidders buying more liens this year and that more liens went unsold at the end of the day.”

There’s still time to shop – 482 properties owing taxes remained available for tax lien purchase following last week’s auction though Damron said two buyers had already put dibs on another 170 by Monday afternoon.

For more information on real estate tax liens still unpaid, or for information on next week’s mobile home tax lien sale, visit http://trs.elpasoco.com/.