CLAYTON, Mo. (KMOX) - Another likely sign of tough economic times. More St. Louis County properties are on the auction block this year for unpaid taxes.
“We’re about ten-percent ahead of 2010,” says Eugene Leung, St. Louis County Revenue Director.
Last year, properties sold for back taxes were up ten-percent as well.
Leung tells KMOX it’s hard to know exactly what’s happening, but, “I think if one wanted to speculate on the state of the economy, that would probably be a fair reason.”
He does expect about half the property owners will pay up before the actual auction date a month from now.
Right now St. Louis county is owed 31-million-dollars, which includes interest and penalties. Properties must be delinquent for three years before they can be offered for sale.
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