Sale brings in nearly $500,000

Sale brings in nearly $500,000

JONESBORO, AR (KAIT) - A recent sale of tax-delinquent properties in Craighead County will help both county and state officials with bringing in revenue as well as creating new properties for the tax rolls, Arkansas Commissioner of State Lands John Thurston said Monday.

The auction collected $489,412.84, Thurston said, noting there were nearly 30 bidders at the auction and officials sold 32 of the 36 parcels that were up for grabs.

The state office has at least one tax-delinquent land sale in each county every year. In order for the land or property to be auctioned, taxes have to be past due for a two-year period.

Also, the office turns over all taxes and interest collected from the sale to the county, Thurston said.

"Last year, we returned more than $18 million to school districts and county governments," Thurston said in a statement. "Craighead County received over $589,000 of that amount. This is an important process because it provides stable revenue necessary services including public schools."

Copyright 2017 KAIT. All rights reserved.

Watch Region 8 News On Demand: On your Desktop | On your Mobile device

Region 8 News App - Install or update on your: iPhone | Android