The Kenai Peninsula Borough will hold a public outcry auction for a slew of tax foreclosure properties Saturday.
Borough Mayor Mike Navarre says the borough holds the outcry auction each year in accordance with state statutes.
Mayor Navarre: “They’ll be sold at the auction but the previous owners have the right to purchase them back if they’d like for, the taxes that are owed.”
Those property owners can repurchase those properties through Friday.
The auction packet shows 48 parcels up for auction from Nikiski to Seldovia. Originally over 70 parcels were listed.
Navarre says the Kenai Peninsula Borough handles the proceeds from the auctions a little differently than most municipalities.
Navarre: “This decision was made a long time before I got here but what the borough does is we sell the properties, we collect the portion of the sales proceeds to pay the taxes owed on it and the remainder goes to the previous owner of records. So we don’t keep the excess above the taxes that the parcels were originally foreclosed on for.”
The auction packet notes that all properties are sold “as is” and that some parcels may currently be occupied, in which case purchasers would be responsible for resolving the occupancy issues.
Auction registration will begin at 9:00 am, Saturday, October 24, in the Soldotna High School Auditorium and the action is scheduled to begin around 10:15.