ROCKINGHAM, Vt. – The Rockingham tax sale took place on Thursday, Feb. 23 at 10 a.m. in the Lower Theater of the Bellows Falls Opera House with Steve Ankuda of Parker & Ankuda P.C. and Rockingham Staff in attendance.
Ankuda explained to the audience of 10 that tax sales were used to collect back taxes on properties for money owed to the municipality. The minimum bid pays the debt in full, and includes the interest, penalties, and utilities.
The rules state that if property is acquired at tax sale, the buyer does not own the property for one year, and anytime within that year the mortgage holder or owner can pay off the debt. After the sale, the property accrues 1% interest per month, at the end of the year the owner must pay 12% interest, plus the debt in full.
Beginning Feb. 24, 2024, the highest bid at a tax sale will acquire a tax collectors deed and own the property. Ankuda said “for good or for bad,” explaining the property might have tenants to evict, or in worse case scenarios might only be an empty lot.
Bidders are not allowed on the property until they own it, but Ankuda said state statute allows the municipality to enter onto the land for the purpose of assessing and remediation to protect its investment. He said the town was ready to bid on properties.
Ankuda said the winning bid must settle immediately and after the year would also pay 1.45% to the state for the property transfer tax. He warned that winning bids will want to watch the properties activities.
The following properties received no bids and were considered not sold: 212 Rockingham Street, 37 Old Terrace, 90 Rockingham Street, 995 Saxtons River Road, 27 Front Street, 16 ½ Hyde Street, and 25 Hapgood Place.
The property of 510 Htichcock Road received the only bidding war; minimum bid began at $3,628 and the final bid was accepted at $9,000.
The minimum bids were accepted for the properties at; 299 O’Brien Road for $9,332, 15 Corey Hill Road for $19,169, and 990 Saxtons River Road for $5,132.
The Town of Rockingham won the minimum bid on 36/37 Old Terrace for $13,976.
The State of Vermont offers property tax credit assistance, visit their website for more information www.tax.vermont.gov/property/tax-credit.