INDIANAPOLIS -- The Marion County Treasurer's Office is trying to recoup a record $47 million in unpaid taxes by selling thousands of properties of people who haven't paid up.

This year, more than 7,300 tax-delinquent properties are up for sale, the most on record, 6News' Kara Kenney reported.

Potential buyers looking for a good deal gathered Thursday at the City-County Building for the annual auction.

"If you can get them at the right price, you can fix them up and get tenants in them," said John Harris, who bought a property on Carrolton Avenue. "When the market comes back, you can sell them and make a good profit."

Treasurer Mike Rodman blamed the tough economy for more people losing their homes. But even those looking to buy have been impacted by the recession.

"Even the bidders don't have as much money as they have had in the past," said bidder Ned Majors.

Last year, the tax sale collected $25 million, and Rodman said he hopes to bring in more this year.

"We have to collect taxes to pay for all the different services," he said. "If the money is not collected, different services will be cut."

Most property owners will have a year to pay back the bid price of their home with interest before the property can be claimed by the new buyer.

The auction continues on Friday between 9 a.m. and 5 p.m. on the second floor of the CCB. If the sale is not wrapped up by the end of the day, it will continue on March 25.