TAXING AUTHORITIES AND LOCAL INVESTORS BENEFIT FROM CERTIFICATE SALE

This year’s annual Tax Certificate Sale was a win-win for both Okaloosa County and investment bidders. Tax Collector Ben Anderson stated, “The sale allows our Office to collect the remaining unpaid property taxes on behalf of the local governments, and at the same time, offers investors an opportunity to receive higher interest rates and returns than many other conventional investments.” This year’s sale produced $6,490,044.51 in revenue for the Okaloosa County Taxing Authorities from 4,436 certificates sold. Anderson says, “This equates to 96.16% of delinquent taxes collected during the sale.”  He credits the success of the sale to the Tax Department’s 10 workshops held throughout the County during May leading up to the Sale on June 1.  Anderson continues, “The workshops educated both property owners and investment bidders, and as a result, nearly 600 certificates were awarded to local bidders at an average rate of 8.06%.” On the success of the sale, Anderson says, “The total of 2012 tax bills is $181,945,513.94. With the completion of the Tax Certificate sale, we have now collected all receivable funds except for $25,961.69, or 99.986%.  Anderson says that anyone interested in those remaining parcels are guaranteed the highest return rate of 18%, and encourages those interested to contact Tax Administrator Justin Gordon at 850-651-7603.