The first in a series of monthly auctions for adjudicated properties in New Orleans brought in more than $2.5 million after 318 people placed more than 8,000 bids to buy 79 properties in what City officials are calling a “resounding success.” In addition, more than 44 delinquent accounts of $1,170,326 were paid in full in the weeks leading up to the auction. Altogether, the adjudicated property auction process has so far brought in nearly $3.7 million for the City of New Orleans and is helping to revive economic activity and create a fairer tax system.
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