Pinellas County Tax Collector Releases Tax Certificate Sale Results
CLEARWATER - Pinellas County Tax Collector Diane Nelson released on Thursday the results of the 2010 Pinellas County Tax Certificate Sale held on June 1.
This year's auction resulted in the sale of 19,005 tax certificates, producing $60.08 million. Ninety-nine percent of the 19,022 available certificates were sold, with an average interest rate of 2.96 percent.
The annual tax certificate sale is an online auction that allows bidders the right to purchase a delinquent taxpayer's debt and ensures a majority of unpaid property taxes are collected and distributed to various taxing authorities. The certificate sale uses a reverse auction, where the investor who bids the lowest interest rate wins the right to buy the tax certificate, providing a way to collect delinquent taxes while buying time for temporarily distressed taxpayers.
For more information about the tax certificate sale or other tax collector services, visit www.taxcollect.com or call (727) 464-7777 to speak to a customer service representative.
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