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Gannon recoups $90 million in uncollected property taxes

West Palm Beach, FL – Anne Gannon, Constitutional Tax Collector, revealed the final results from the June 7 Tax Certificate Sale.  The chart below provides a summary.

 

# of Certificates

Amount

Certificates Advertised

29,833

$89,830,623.69

Purchased

22,016

$86,931,919.32

Struck to the County

2,460

$  2,892,753.14

 

 

 

5,357 tax certificates were removed from the auction because Gannon’s office received payment at the last minute.

“The $90 million we recouped is critical to our county.  It is money already budgeted to fund ongoing and essential services,” said Gannon.  “Without the proceeds from the sale, the County Commission and local taxing authorities would face a huge budget deficit.”

Gannon and other tax collectors are required by law to hold an annual Tax Certificate Sale to recover uncollected property taxes. 

A tax certificate or first lien, is placed on a delinquent property and sold at auction through an online competitive bid process.  The party who purchases a tax certificate does not own the property.  They own the certificate or first lien.

By law, a property owner has two years to redeem a tax certificate.  Once a tax certificate is sold, interest and advertising fees are applied.

Release Date: 
Thursday, July 19, 2012
Contact Information: 
Contact: Anne Gannon, Constitutional Tax Collector
  (561) 355-4271
KClarke@pbcgov.org

 

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