All 170 properties sold in N.O.'s latest adjudicated property au - FOX 8 WVUE New Orleans News, Weather, Sports, Social

All 170 properties sold in N.O.'s latest adjudicated property auction

New Orleans officials praise results of latest adjudicated property auction. (FOX 8 Photo) New Orleans officials praise results of latest adjudicated property auction. (FOX 8 Photo)
NEW ORLEANS, LA (WVUE) -

New Orleans city leaders announced on Friday that the second in a series of online monthly auctions for adjudicated properties brought in over $4 million after 417 people placed more than 14,600 bids to buy all 170 properties that were for sale.

In addition, 15 delinquent accounts of $525,657 were paid in full in the weeks leading up to the auction.

Altogether, the adjudicated property auction process has so far brought in more than $8.3 million for the City of New Orleans through two auctions and city officials say the process is helping to revive economic activity and create a fairer tax system. 

The next auction currently includes 165 properties scheduled for sale.

The City also reminded residents that there are over 1,000 properties still available for deposit to begin the research and notification processes before an auction may be scheduled.

A list of these properties is available at CivicSource.com, which is also where the online auctions take place.

According to First Deputy Mayor & CAO Andy Kopplin, "We look forward to continuing these monthly auctions until the City has exhausted its backlog of adjudicated properties. We still have about 1,000 properties awaiting deposits across the city, so I encourage residents to go to CivicSource.com to check them out."

A property is adjudicated to the City when its property taxes have not been paid - becoming delinquent - and the City is unable sell the property at a tax sale.

The City only auctions properties where five years have elapsed from the tax sale certificate filing date.

In the Aug. 5 auction, 126 people bought 170 properties for a cumulative total of $4,079,600. 

The highest bid in this week's auction was $237,000 for a commercial building at 13000 Chef Menteur Highway.

The City will hold the online auctions for adjudicated properties on the first Wednesday of every month, from 8 a.m. to 8 p.m., subject to a rolling close in the case of last-minute competitive bidding.

The City is scheduled to sell about 165 properties on Wednesday, September 2nd.

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