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Past News Briefs


2007 CERTIFICATE SALE ATTRACTS RECORD NUMBER OF BIDDERS


2007 CERTIFICATE SALE ATTRACTS RECORD NUMBER OF BIDDERS


Interest rates decline to the benefit of delinquent property owners

BARTOW, Florida/ PR Free/ June 25, 2007

The Polk County Tax Collector's Office continues to see positive outcomes for taxpayers in the internet-based property tax certificate sale, held earlier this month. Lower interest rates for taxpayers and more efficient uses of Tax Collector resources are just a few of the benefits from the sale.

This year's sale attracted over 4100 actual bidders, a 75% increase over last year's participation with 18.7 million bids, up from the 11.7 a year ago. The total value of the certificates increased from $13.9 million to $24.1 million this year, indicative of the increase in property values throughout the county.

"The online tax certificate sale continues to generate great results," stated Joe G. Tedder, Tax Collector. "The number of delinquent dollars is increasing each year. We have put a process in place that provides the most efficient method for both generating more revenue for government entities while reducing interest rates that delinquent taxpayers have to pay."

This is the third year that Polk County has conducted the sale entirely on the Internet. Vendors such as Realauction, the online service provider that Polk has used for the past two sales, have been so successful with tax certificates that they are now expanding their expertise into tax deed applications. Parcels that received no bids will be struck off to the county. This year, that receivable is $453,928.

Other Background Information:

Tax certificate investors generally expect delinquent property owners to pay their delinquent back taxes plus interest. If payment is not made after two years, the tax certificate holder can force the property to be put up for auction through a tax deed process. The life of a tax certificate is seven years. After that, the certificate becomes null and void.

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