ST. PAUL — Some four years after the housing bubble tanked, the number of tax-forfeited properties up for auction has mushroomed in what used to be one of the fastest growing areas in Minnesota.
On Monday, more than 270 tax-forfeited vacant lots in St. Cloud, Sartell and five neighboring central Minnesota cities will go up for sale at an auction by the Stearns County Auditor to get the parcels back on the tax rolls.
“Much of it was over-development where all the lots had special assessments against the property. The developer’s cash flow dropped off, and they weren’t able to pay off their obligations,” said Steve Holthaus, tax system manager for Stearns County.