Pinellas County Tax Collector Charles W. Thomas recently announced the results of the 2020 Pinellas County tax certificate sale held on May 30.
This year's auction resulted in the sale of 12,493 tax certificates, collecting more than $41 million. Thomas said 99.5% of the 12,559 available certificates were sold, with an average interest rate of 0.94 percent.
The annual tax certificate sale is an online auction that allows bidders to purchase a tax certificate by paying the tax debt on a property and ensuring a majority of unpaid property taxes are collected and distributed to various taxing authorities.
The certificate sale is conducted in a reverse auction style where the investor who bids the lowest interest rate is awarded the tax certificate, providing a way to collect delinquent taxes while allowing temporarily distressed taxpayers more time to pay.
For more information about the tax certificate sale or other tax collector services, visit taxcollect.com or call 727-464-7777.