Property Tax Delinquencies Increase for 2011, says Gannon
Palm Beach County Tax Collector Anne Gannon reports that 33,270 property owners are currently delinquent. That represents $108,479,992.50 in uncollected revenue. Last year, she said, 26,709 tax certificates were sold for $99.6 million.
Gannon reminds property owners that the deadline to pay delinquent property taxes is 5 p.m. Wednesday, June 6. After that date, all unpaid taxes will be listed for sale at the annual tax certificate auction on June 7.
“The law requires tax collectors to hold an annual tax certificate auction to recover the uncollected revenue,” says Gannon. “This revenue has already been obligated to fund essential services to our community such as law enforcement, fire, EMS, public health and education.
A tax certificate, also called a first lien, is placed on a delinquent property and sold through a competitive bid process. The party who purchases a tax certificate does not own the property. They own the tax certificate, the first lien.
By law, a property owner has 2 years to redeem a tax certificate. Once a tax certificate is sold, interest and advertising fees are applied to the amount owed. On average the amount owed increases by a minimum of 10 percent. These costs can rise due to increases in interest rates awarded during the period of time between the tax certificate sale and the redemption date.
Payments may be made either in person at a service center or by mail. Mailed payments must be received, not postmarked, at Gannon’s office no later than 5 p.m. June 6, 2012.
Delinquent taxes cannot be paid online. Payments must be made with cash, bank draft, certified check, money order, cashier’s check or US bank wire transfer. Property owners can stop by a service center to pay. There are drop boxes at each location.