On Tuesday, August 6, the Town of Benton will host their annual tax sale online at CivicSource.com. The auction opens at 8:00 a.m. and closes at 8:00 p.m., subject to a sliding close. Four properties are slated for auction, ranging from $500 to $546. The sale is open to the public, and registration is free.
The auction price is fixed at tax, interest, costs and other impositions due, so instead of competitive price bidding, ownership interest in property is bid down. The winning bid is the least percent ownership bid on any property. Winning bidders receive tax title certificates, an interest-bearing investment returning five percent and one percent per month until paid. If not repaid within three years, the purchaser receives property ownership in the amount equal to percent bid at auction, subject to the taxes being paid.
For a complete listing of properties slated for the 2019 tax sale, visit CivicSource.com/TownofBenton.