The 2007 Tax Certificate Sale, which was conducted online for the fourth year in a row, was a continuing success.  The County sold over 46,000 tax certificates, collecting an estimated $258 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 2007 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.  Almost all available tax certificates were sold for the fourth year in a row and almost all of them at the low interest rate of 0.25%, and revenue collected of just over $258 million.
• The number of buyers participating in the sale continued to grow with certificates awarded to over 5,000 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.