Auction of properties for unpaid rates and charges delivers for Tamworth Regional Council

It was a "very good night" for the ratepayers of Tamworth, Burke and Smyth managing director Gavin Knee told the Leader.

"All the money's been recovered, all the debt's been wiped, and a huge success going forward," he said.

"It's not council's money, it's all us ratepayers' money, and to get that back into the coffer, we get better results for our town."

All the sales exceeded their reserve prices, and six by a long way, Mr Knee said, with a block in Bendemeer selling for $88,000.

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There were between 50 and 60 registered buyers attending the auction, and many tuned in online.

It outperformed council's previous auction in 2018, when approximately 80 to 90 per cent clearance was reached.

"I think the market conditions are still quite good, and they were in affordable price ranges," Mr Knee said.

"I think the market conditions are still quite good, and they were in affordable price ranges," Mr Knee said.

Despite the sale of all properties, there will be a small shortfall, a council spokesperson said.

A report will be presented to council recommending that any remaining outstanding debt be written off.

Among the properties sold were parcels of land on the obscure side, such as accessways, laneways, and a patch of paddock.

It's "too early to tell" the intent behind those sales, Mr Knee said.

"They could have been neighbours that bought them, we're not totally aware at this stage," he said.

The lucrative evening comes after Tamworth councillors agreed to purchase the properties if the auction went sour.

The cost-saving measure was put in place to avoid administrative costs in future sales, and would permit properties to be marketed where practical, council said.

A total of 39 properties were listed by Tamworth Regional Council in July last year, but the number reduced to 11 in Tamworth, and six in Barraba and Manilla, by early February.

Council aimed to recover $706,779.32, and a total of $116,000 had been paid by early February, with payment schedules in place.

Council retains funds it is owed when a property is sold at auction, and excess money is held in a trust for those with estates, or interest in the land.

Remaining properties in Barraba and Manilla will be auctioned at 11am on March 9, at Manilla RSL Club.

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