After foreclosing on four properties in January, Shawano County has now rid itself of all of them.
Two properties were sold in April to the village of Gresham, while sites in Mattoon and Wittenberg were recently sold online through Wisconsin Surplus.
Members of the county’s executive committee agreed Aug. 19 to sell the latter two properties to recoup its delinquent taxes and other costs associated with the foreclosures.
Land and a house at 502 S. Mission St., Wittenberg, was formerly owned by Ella Mae Decorah. It was sold for $47,000 to Rachel Olson of RO Wealth Properties LLC in Bonduel. The county’s costs were $16,534.21, leaving a profit of $30,465.79.
“I definitely feel like the $47,000 is a fair price for purchasing this property,” said County Treasurer Emily Kazik.
She said the property had an appraised value of $50,000; an assessed value of $43,900; and a fair market value of $51,600.
In Mattoon, property previously owned by Philip Merkle sold for $10,005 to Dean Johnson, who owns property next to the one that was purchased.
“That definite sold for more than we appraised the value at,” Kazik said.
The property was appraised at $8,100, was assessed at $6,500, and the fair market value was $8,800.
The county’s costs are estimated at $7,107.88, leaving a profit of $2,897.12.
“We may have some additional costs,” Kazik said. “That’s the estimated right now.”
By law, checks for the profits will be sent to the previous owners’ last known address, but because both owners are deceased and no one else has responded to previous letters, officials expect the money will eventually make its way to the state as unclaimed property.
kpasson@newmedia-wi.com
