The sale of property at Monday's annual Cape Girardeau County tax sale generated more than $10,000 in revenue.
Cape Girardeau County Collector Diane Diebold said 20 of the 43 properties offered were sold. Properties available were those for which property taxes were unpaid for the two prior years.
The properties not purchased will continue to be assessed interest and late penalties. They will be offered for purchase again at next year's tax sale, Diebold said.
The county holds its tax sale each year on the fourth Monday of August.
There were 15 registered bidders at Monday's tax sale, Diebold said.
"Bidding starts at the full amount of taxes owed and then goes up from that," Diebold said.
Even though the parcels were sold during the auction the owner has up to one year to pay and retain the property. If the owner redeems the land, he or she must pay the sale price plus interest to the person who purchased the property during the auction.
Amounts paid over the total of taxes owed is considered a surplus and may be claimed by the property's new owner at the county treasurer's office for up to three years, Diebold said.
If a tax sale surplus is not claimed, it is then distributed to local schools, Diebold said.
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