Sales at Beaufort County tax auctions trending downward; what could that mean?

Beaufort County’s delinquent tax sale, an annual auction of properties with past-due balances, hit a high-water mark in 2013 and sales have been receding since.

In 2013, 580 properties were auctioned, generating roughly $40 million in sales — “a staggering amount” and the most money collected in the history of the auction, according to Beaufort County Treasurer Maria Walls.

The following year, the number of properties auction dropped and the sales total was sliced nearly in half to about $21 million.

The trend continued in 2015 with the collection of less than $13 million on the sale of fewer than 400 properties, according to data from the Beaufort County treasurer’s office.

At first blush, the increasingly smaller sales totals in recent years may seem troubling. The more revenue generated on the sales, the more money the government has to fix roads and hire teachers, right?

Beaufort County Treasurer Maria Walls sees the trend differently.

Over the past few years, the total value of a taxable property in the county has increased, as has the collection rate for those taxes, she said.

While less revenue has been generated at recent auctions, that’s because more property owners have paid their taxes on time since 2013.

“We might be seeing a new trend,” Walls said. “I certainly hope so, that would be great — I don't want to auction these properties, I want people to keep them.”

When county residents pay property taxes earlier and avoid the auction, it gives county leaders more time and information to craft the next fiscal year’s budget, she said.

Earlier payments and higher collection rates could also serve as a positive indicator for the county’s economic well-being.

“Hopefully this is an indication that property owners in our region are having a better ability to pay (taxes on time),” Walls said. “All of the foreclosures and things that were happening a few years ago during the recession — I am hoping that has kind of resolved itself.”

Preliminary indicators suggest Monday’s tax sale will continue the recent trend, she said.

“I’m hoping what we saw last year will be consistent with what we see this year,” Walls said.

Taxpayers who want to prevent their property from being auctioned have until 5 p.m. on Friday to pay any outstanding taxes.

Bidding for the tax sale starts at 10 a.m. Monday at the Charles Lind Brown Gymnasium, 1001 Hamar Street, Beaufort.

An interactive map of properties set to be auctioned is available online at www.beaufortcountytreasurer.com.

This story was originally published September 29, 2016 at 1:49 PM with the headline "Sales at Beaufort County tax auctions trending downward; what could that mean?."