The Kenai Peninsula Borough will hold a public outcry auction for over 70 properties on October 24.
Borough Mayor Mike Navarre said each year the borough must foreclose on properties which property taxes have not been paid according to 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 up until the day of the auction.
The Kenai Peninsula Borough handles the proceeds from the auctions a little differently than most municipalities according to Navarre.
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 properties up for auction range from half an acre to 40 acres and are located from Nikiski to Nikolaevsk.
The list of parcels up for auction can be found by clicking here.