Schoharie County reaped big money and buyers came away with bargains at the annual property auction Saturday in Schoharie.
Held in front of the County Courthouse, the 20th tax-sale auction of county-owned properties brought in $536,625.
The county had taken the property for unpaid taxes. Those taxes on the 50-plus parcels totaled $430,942, so Schoharie County not only recouped the back taxes in the sale, it also netted an extra $105,683.
"The advantage is that not only did we get over and above, but we collected what was owed," said Treasurer Bill Cherry, who was the auctioneer. "Before, we didn't have any of it.
"And now, these properties will be productive and back on the tax roll."
While the sale price, net amount and taxes recouped aren't records, one mark was set before the sale.
One property owner obtained a court order directing Mr. Cherry's office to accept his payments on Gilboa properties. That total was $224,964. The owner paid, and his parcels were pulled from Saturday's auction.
"It was an historic amount," said Mr. Cherry.
Including the Gilboa payments, the total taken in by the county was $761,589.
"That's three-quarters of a million dollars, cash on hand, money in the county coffers," Mr. Cherry said.
If the county made out well, so did the buyers. More than a hundred crowded under and around the tent on the Courthouse lawn as Mr. Cherry offered property after property.
And the bidders got deals. A partially wooded 48-acre piece in Broome with an estimated market value of $68,000 went for $49,000.
A two-family home in the Village of Cobleskill with an approximate market value of $97,358 was sold for $56,000.
Several bargains were better than those. A large abandoned home in the middle of Jefferson had an estimated market value of $100,000. The winning bid was $8,000.
"Yes, it needs work, but I think it's salvageable," Mr. Cherry said. "It has a lot of potential, and the money saved on the bid can go into work on the house."
And a two-family home in the Village of Middleburgh had a market estimate of $121,857. It sold for $39,500.
"It's a nice location and a really nice home," Mr. Cherry said.
Some properties went the other way. A 12-acre parcel with a shale bank in Summit had a market value of $10,938. The winning bid was $15,000.
For the most part, bidding was lively, though prices started low. Mr. Cherry said he usually starts a bid at one-third to one-half of the estimated market value.
"This is the first year I've had to start at $1,000 on every property, whether it was $100,000 or $5,000," he said.
"This was a tough crowd," Mr. Cherry added, laughing. "These were bargain-hunters."