Tax Certificate Sale 2010 Results
The 2010 Tax Certificate Sale, which was conducted online for the seventh year in a row, was a continuing success. The County sold over 58,000 tax certificates, collecting an estimated $305 million in delinquent taxes. Conducting the auction online as opposed to a physical auction results in significant improvements and savings that benefit the County and its taxpayers. The results of the 2010 Tax Certificate Sale are as follows:
- The tax sale process was completed in days as compared to a month in 2003.
- In the two years before the online sale, over 8,000 certificates remained unsold, resulting in delayed revenues for taxing authorities and higher interest rates for delinquent taxpayers. Over 98% of available tax certificates were sold last year.
- Interest rates on certificates were more than half of that of a year ago generating saving to delinquent taxpayers.
- The number of buyers participating in the sale continued to grow with certificates awarded to over 24,000 different bidders.
- In years prior to the electronic tax certificate sale, delinquent tax revenues resulting from the sale were not distributed until July. Sale revenues are now distributed a full month earlier.
- The elimination of previous years’ auctioneer fees, room and equipment rental, staff time and overhead resulted in a significant decrease in the cost of running the auction.
The electronic sale has proven a key component in the fulfillment of our mission to promote change and performance excellence.Back to Top Page Last Edited: Tue Jan 10, 2012 11:24:18 AM
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