Idaho Auctions 32 Payette Lake Lots, Raises More Than $13 Million

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Payette Lake
  • Payette Lake
On the last day of January, at the Riverside Hotel in Boise, the Idaho Department of Lands auctioned off 32 lots along Payette Lake. The sales generated $13,470,000 for the state.

The money will go toward Idaho's public school system, State Hospital South in Blackfoot, and teacher education programs at Idaho State University in Pocatello and Lewis-Clark State College in Lewiston.

Of the 32 lots sold, 29 are leased and have cabins on them, which accounted for $11,369,000 of the sales. Only one of those lots elicited competitive bidding, selling for $8,000 above the appraised land value.

Three more non-leased lots sold for $2,101,000, a total of $73,000 more than the appraised value. An additional three non-leased lots up for auction received no bids at all.

As of Feb. 1, the state has sold 127 of its cottage site lots at Priest and Payette lakes—a quarter of the lots owned by the state of Idaho. Another 180 leased lots in those areas will be auctioned by 2017.