The Alabama Department of Revenue held an auction, Monday August 14, 2023 at Noon, of seven parcels of land, totaling 212 aces, seized from Greenetrack as payment on a multi-million dollar sales tax debt owed by the gaming facility.
The State bid $693,767 for the property, based on their appraisal and study of comparable land sales (average $3,272 per acre) and no one at the auction offered any higher amount. Several bidders were grumbling because they wanted to purchase individual tracts offered in the newspaper ad, but the parcels were not sold separately.
The actual former Greenetrack facility, which is partially owned (50%) by the Greene County Commission was not a part of the sale. Land surrounding the facility was the subject of the sale.
Greenetrack was basically forced out of business by the state sales tax levy that they dispute. The Greene County Entertainment Inc. is now operating historic horse racing machines and simulcast dog and horse racing at other tracks, at the former Greenetrack facility.
Per state law, a taxpayer is allowed a one-year period to redeem property seized and then sold under the seizure procedures. If the property is not redeemed, the state can attempt to sell it in order to pay off the outstanding debt.
The state officials at the auction said the land would be soon offered for sale to the public on the ADR website.