Schoharie County's annual win-win sale will be this Saturday.
It's the yearly auction of county-owned properties, where buyers can get good deals and the county puts land back on the tax roll.
"There are some great bargains to be had, and these can become productive properties again," said county Treasurer Bill Cherry.
Mr. Cherry will auction 51 parcels--mostly houses and vacant land--when the sale starts at 10am in front of the County Office Building in Schoharie.
The county is selling the properties because of unpaid taxes, and "they'll be free and clear of all liens, delinquent taxes, mortgages, everything," Mr. Cherry said.
"It's as if the county was getting rid of a desk or a used truck."
Mr. Cherry outlined what he believes are a few of the top properties:
•48 acres on Zach Hill Road in Broome. With woods and fields, it also has part of an old apple orchard. "It's a nice spot with beautiful views," Mr. Cherry said.
•Two-family home on Elm Street, Cobleskill. It's directly across from Cobleskill-Richmondville's Golding School.
•Colonial farmhouse on 7.5 acres on Blackberry Street in Gilboa. The property is surrounded by New York City easements, so construction nearby is unlikely. "It's a quaint rural setting," Mr. Cherry said.
•Two-family home on Cliff Street in Middleburgh.
•Nine acres and a well-kept cabin on Seven Ponds Road in Summit.
A catalog produced by the county--and available at Mr. Cherry's office in Schoharie--lists market values for the properties.
The 48 acres in Broome, for instance, have an estimated market value of $68,000. Mr. Cherry said, however, that most properties will go for 60 to 70 percent of their market value.
So the Broome piece might go for $35,000 or $40,000, he said.
Mr. Cherry and Kathy Parker of his office, along with Director of Real Property Tax Services Margie Troidl and technician Susan Makely estimated what the auction will bring in.
That figure--the sale of all the properties--is $597,100.
The county has lost or absorbed $462,420 in taxes on the properties. It's possible that the county could not only recoup the lost taxes but gain about $134,000, Mr. Cherry said.
Bidders must submit a $500 bank check when they register for the auction. The $500 will go towards a down payment if they're successful bidders or will be returned if they're not.