They might not necessarily be move-in ready – some might just be vacant lots while others might be in disrepair – but Yuba County has dozens of tax-defaulted properties it plans to auction off later this month on the cheap to help recoup some of the back taxes.
One of the properties is the old Nakagawa Co. building on C Street in Marysville, which will start at a minimum bid of $11,000. Another is 2.5 acres in Oregon House with structures on it for $4,000. There is also a single-family residence across the street from Johnson Park Elementary School starting at just $14,000. In total, there are more than 60 properties expected to be auctioned off online between Feb. 22-25.
“These are properties that haven’t paid their taxes in over five years, which is the point that they become tax-default,” said Yuba County Treasurer-Tax Collector Dan Mierzwa. “This is the last possible line of tax collection in the process.”
In the past, counties held tax-defaulted property sale auctions in person, but for the last decade or so Yuba County has utilized an online tool called www.Bid4Assets.com. Mierzwa said using Bid4Assets allows for a greater audience to bid on the properties from across the world.
Yuba County has approximately $2 million outstanding in tax-defaulted parcels, Mierzwa said, so auctioning those properties off is a necessity.
Every year, the county divvies out property tax revenues to special districts – The lion’s share going to school districts – based on tax rolls. However, when a property owner doesn’t pay their property taxes, it results in the county basically fronting the funds. Selling the tax-defaulted property allows the county recoup those costs.
“That’s the financial piece of this, but when it comes to vacant properties, we’ve all see them in our neighborhoods. They can often turn into nuisance properties that accumulate garbage and trash,” Mierzwa said. “So by going through this process, we are able to bring productivity back to the property so that it is no longer a nuisance.”
Online bidding will open Feb. 22 at 8 a.m. and will run until Feb. 25 at noon, with auctions for different properties closing at staggered times. Those interested in bidding must first register a free Bid4Assets account and fund a $2,000 deposit. Deposits are due Feb. 18.
For more information about the upcoming auction, visit www.Bid4Assets.com/Yuba.