Indiana Real property selling for 7 billion an acre
From Spencer, Indiana comes a real estate story that cannot be beat. Apparently, in order to preserve use rights in a nearby lake, someone deeded off a 1 inch square parcel of property in Owen County. Trouble is that now the county is having to sell the property at a tax sale.
Well the minimum bid at a tax sale is $1,500, and the county is not finding any takers at that price for this “postage stamp” sized parcel. Under the law, the county has to continually bring the property up for sale, and the legal advertising for the parcel is costing $85.00 each time.
