By Matt Youngfrau
LOCH SHELDRAKE June 6, 2003 Once again, the Real Property Tax Auction exceeded expectations.
Following two days of heavy selling this week, county officials announced that they had made a profit of more than $1.3 million.
The auction was held Tuesday and Wednesday at Sullivan County Community Colleges Paul Gerry Fieldhouse in Loch Sheldrake. Approximately 230 properties were sold. Once again, the auction was run by Haroff Auction and Realty, Inc. and Absolute Auctions and Realty, Inc.
Taxes owed on the properties totalled $538,416.13. By the end of the first day, the auction pulled in nearly a million dollars. By the end of the second day, the total was up to $1,887,645, an approximate profit of $1,349,228.80. (All figures are preliminary, as the county treasurers office is still adding up the figures and full payment isnt due until July 18.)
In 2002, two auctions brought in $8,283,075, about a million of which was pure profit.