According to allotsego.com, the Otsego County property tax foreclosure auction scheduled for August 16 has been cancelled and the entire in rem foreclosure procedure has been suspended as a result of the uncertainty created by a recent decision from the Supreme Court of the United States regarding the handling of surplus monies derived from the sale of properties at tax foreclosure auctions.
“The lack of income from the auction sales will affect the present county budget,” Otsego County Treasurer Allen Ruffles noted, “because we had budgeted $650,000.00 in anticipated receipts for the fiscal year 2023.”
County Cancels Auction Following May 25th Supreme Court Ruling