Thousands of properties on the auction block - - Jackson, MS

Thousands of properties on the auction block

Posted: Updated:

By David Kenney - bio | email

JACKSON, MS (WLBT) -Thousands of properties are on the auction block in Hinds County this week.

The county is holding its annual tax sale at the Hinds County courthouse.

People from around the country are bidding on tax liens on properties where the owners are more than three years delinquent in paying their taxes.

If the bidders buy the lien, they pay off the back taxes.

The property owners then must pay the lien holders their back taxes, plus 18 percent for every year they're behind.

Two-hundred people are bidding on 11-thousand properties.

The Hinds County Tax Collector's Office said there are more properties up for sale this year because of escalating interest rates.

The tax sale is expected to run through Friday.

©2010 WLBT. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Powered by WorldNow