HORRY COUNTY, SC (WMBF)- Horry County expects to generate more than $3.8 million in revenue at its annual delinquency tax sale, held in Conway on Monday.
Horry County Treasurer Roddy Dickinson says more than 1,400 properties were featured in this year's sale - all of which current owners failed to pay taxes on. Opening bids were based on all delinquent taxes, penalties and costs, in addition to taxes owed for the current year on individual properties.
Properties featured at the sale included everything from oceanfront lots, parcels of land, commercial buildings and homes. Several people WMBF News spoke to say they were hoping to purchase pieces of land for future development.
While several bidders walked out of Monday's sale with pieces of property, they're not guaranteed to still have those properties next year at this time. Dickinson says property owners have one year to pay their outstanding taxes to redeem their pieces of properties.
For bidders like William Caddell, it's something that happened after he bid just under $350 for three pieces of land in a previous sale. He says those plots of land were valued at $41,000 each.
But he never ended up with those properties, rather he walked away from the sale with $300 in his pocket after the land's owner redeemed the property. That money comes from 3 percent interest the original owner had to fork over when they paid their outstanding taxes.
Caddell says while he wanted the land to develop, it's a win-win situation.
Dickinson says it's likely the sale will continue Tuesday and possibly into Wednesday. All properties must be paid for in full on the day they're bid on. For paperwork and information you need to know before bidding, visit www.horrycounty.org.