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Treasurer reports lower premiums at tax sale and continuing online payment issues
Summary
The Treasurer's office said premiums at the recent tax sale were down and attributed part of the change to a state Supreme Court decision altering the treasurers deed process; office continues to restore online payment functionality.
The Treasurer's office updated the Board on efforts to restore online payment capabilities and summarized results from the countys recent tax sale.
Speaker 9, representing the Treasurer's office, said the tax sale did not perform as well as the prior year: premiums were "way down" and fewer large investors participated. She attributed part of the shift to a recent state Supreme Court decision that changed the treasurers deed process and lengthened finalization, which may deter some investors.
Operational details: Speaker 9 said the office offered a two-day auction this year to move more properties, asked bidders to prepay to ease settlement delays (the county lacks fast wiring options in Cortez), and noted some auction fees for end-of-auction services. Foreclosure activity ticked up but remained within expected seasonal patterns.
Next steps: The Treasurers office is working to restore online payments at the start of the year and will continue to monitor investor participation in tax sales. No formal action was recorded.
