Tax auction nets $80,000 profit

OGDENSBURG — St. Lawrence County sold 72 properties at its foreclosure auction Saturday, netting an estimated $80,000 profit from gross sales of about $415,000.

"This was a low-profit year," said Robert O. McNeil, county treasurer. "We sold 30 or 40 less properties this year than we usually sell."

Last year's auction sold a record low of 50 properties, but resulted in a $114,048 profit.

Mr. McNeil said that although the county made less money than in past years, a relatively small number of parcels on the auction block shows property owners are keeping up with tax payments despite the county's dismal economic climate.

"As the economy has gotten worse, I thought there would be a surge in foreclosures, but there really hasn't been. We probably won't see a surge in foreclosures next year, either. People are taking care of essentials like taxes," he said.

Mr. McNeil said most of the bidders attending the auction at the city's Lockwood Arena owned property adjoining the parcels up for bid.

Carl W. Burnham, Waddington, almost fit that description. He successfully bid $6,500 for a town of Parishville property at 760 East Hill Road, across the road from his hunting camp.

Mr. Burnham said there turned out to be more interest in the 200-by-100-foot parcel than he expected, but he was glad he got the property he wanted.

"I almost didn't get it," he said. "I nearly gave up."

Successful bids for properties ranged from $20 to $26,000, said auctioneer Gregory J. Walsh, Potsdam.

No property went unsold, Mr. McNeil said.

Winning bidders were required to pay a 20 percent deposit Saturday, and have 30 days to pay the balance.