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Pinellas Tax Certificate Sale on June 1 | Business

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Pinellas Tax Certificate Sale on June 1
Pinellas Tax Certificate Sale on June 1

Pinellas County Tax Collector Diane Nelson announces the tax certificate sale for 2010 delinquent real estate taxes will be held June 1 from 7 a.m. to 7 p.m. at bidpinellas.com. Last year’s sale drew more than 75,000 bidders, and the Tax Collector’s office is anticipating a significant increase in the number of participants this year.

The annual tax certificate sale is an online auction that allows bidders the right to purchase a delinquent taxpayer’s debt in exchange for an annual interest rate, ensuring the majority of unpaid property taxes are collected and distributed to various taxing authorities. The sale last year produced $60 million, which accounted for 96 percent of 2009 delinquent property taxes.

Registration is currently open at bidpinellas.com and will continue until the sale ends June 1. The sale in conducted in a “reverse-auction” style, with interest rates on individual certificates starting at 18 percent. Bidders compete for the lowest rate, and certificates are awarded to those with the lowest bid. Any certificate not purchased will be issued to Pinellas County at 18 percent annual interest.

All delinquent real estate accounts are published in the Gulf Coast Business Review during May. To avoid having a certificate issued, property owners with delinquent 2010 taxes must make their payment before the sale either through the Tax Collector’s website, taxcollect.com, or at any Tax Collector office. In-person payments must be made before 5 p.m. on May 31, and certified funds – cash, credit card, cashier’s check or money order – are required.

For more information about the tax certificate sale or other Tax Collector services, visit taxcollect.com or call 727-464-7777 to speak to a customer service representative.

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