Knox County has put 84 surplus parcels of land up for auction as part of its annual delinquent tax property sale. Those interested in pre-bidding online can do so through 4 p.m. May 24 at https://powellauction.com/auctions/real-estate/knox-county-surplus-delinquent-tax-property-online-bidding/.
Most of the properties are residential parcels inside the city limits and many are under an acre. Bids start at $50 per parcel. Potential buyers who are delinquent on any taxes or who have been delinquent in the past five years are not eligible to bid. The parcels are sold “as is and with all faults” and must be sold to the “party making the highest and best offer,” according to state law.
“The County’s goal is to return these properties to the tax roll under ownership that will maintain the property and pay the taxes long-term while also generating revenue that offsets some of the loss from taxes being delinquent,” said Ben Sharbel, supervisor of property development and asset management for Knox County.
When pre-bidding closes on May 24, there is still a rebid process. Here’s how it works: The pre-bid results will be published in The Focus newspaper. Once published, bidders have 10 days to increase a bid by at least 10 percent. If this happens, then the property will be auctioned live at Powell Auction (6729 Pleasant Ridge Road) at 10 a.m. on June 28.
The current sale marks the sixth time Knox County has held a delinquent tax property sale since 2014. The last five auctions yielded almost $1.4 million from the sales of 320 parcels for the county, but, more importantly, these parcels have been returned to the tax roll.
The county received the properties after the owners were delinquent on their taxes for at least a year but usually longer.