$5.1 Million in Revenue for 129 Parcels
Hauppauge, NY – September 27, 2013 – (RealEstateRama) — Today, Suffolk County Executive Steve Bellone announced that Suffolk County’s public land auction conducted by the Division of Real Property Acquisition & Management under the Department of Economic Development & Planning yielded record revenues.
The County realized more than $5.1 million in revenue from the sale of 129 properties. In the previous two years, similar auctions yielded $4.4 million in October 2012, $689,000 in May 2011; $2.9 million in October 2011.
“Once again we have held a very successful real estate auction which will benefit Suffolk County and its residents,” said County Executive Bellone. “Not only did we receive over $5.1 million in revenues, we have returned parcels back to the tax rolls which will provide an additional $302,843 in annual savings to the County due to private owners now paying the property taxes versus Suffolk County. The continued use of technology, which provided aerials and photos online so potential buyers could identify and review properties, proved to beneficial in the success of the auction.”