Allen County held its annual tax sale today. All the banks were closed, but that did not stop the sale or stop the bidders from buying up delinquent tax property. The Tax Sale is a bid auction beginning at 9 a.m., Monday, October 9, 2006 and, if necessary, Tuesday, October
10, 2006 in the City Council Chambers, Room 126, City County Building, One East Main Street. Just before leaving for a doctor's appointment just before noon, the two highest bids at that time was for 8202 RIVEROAK DRIVE going for $370, 000 and 1625 MAGNAVOX WAY for $245,000.
According to the Allen County Auditors website, The buyer’s interest in the property is limited to a lien on the purchased property until:
1. The property is redeemed
2. A Tax Deed is issued
3. or six months after the last date of redemption, whichever occurs first.
There is a 1 year period following the Tax Sale during which anyone may “redeem the property”, i.e. retain possession by paying all money owed to Allen County plus the required fees and interest.
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