Weld County will open its first online auction this week to collect unpaid taxes, but don't expect it to be like Ebay.
The treasurer's office hosts an annual tax certificate auction that collects unpaid real estate property taxes, raises extra money for the county general fund and opens investment opportunities to the public.
Previously the treasurer's office had to close down to run the live auction, which has been at the Island Grove Regional Park Exhibition Hall the past few years. This year the auction will be open Nov. 1-6 on the Internet at www.weldtaxsale.com.
Bids are private and ties are broken when computer software randomly chooses a winner. Bidders indicate the highest amount they want to pay.
Investors at the auction bid on the tax liens with the perks of a 15 percent interest rate.
For more about this article, visit Greeley Tribute.