The School and Institutional Trust Lands Administration (SITLA) sold six trust land parcels at its public auction October 28, earning $673,500 for Utah’s Permanent School Fund.
Two parcels in San Juan County sold for a total of $345,000; a 640-acre parcel in Millard County sold for $300,000; and three one-acre parcels in Garfield County sold for a combined $28,500. A seventh parcel, the 640-acre Iron Springs Canyon site in San Juan County, was not sold as the bidding did not meet the agency’s undisclosed minimum acceptable price.
All proceeds from sales of these school trust lands are deposited into the Permanent School Fund to grow the principal balance, which is just over $2 billion. Interest and dividends from this trust fund are distributed annually to Utah’s public schools, and totaled $45.8 million last year.
Land Sale Auction – June 20-25, 2024
The next land sale auction will be held online June 20-25, 2024. For this auction, we will be offering 3