Increase In Central Florida Real Estate Tax Delinquencies Reported; More Opportunities For Tax Certificate Investors Expected

In Central Florida, The Tampa Tribune reports:

• A slowing economy and stagnant real estate market has translated into a record year of late property taxes. Tax collectors in Hillsborough, Pinellas and Pasco counties are reporting dramatically higher numbers of people who missed the April 1 deadline to pay their property tax bill. In Hillsborough County, the increase is near 30 percent.

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• When someone misses the deadline for their tax bill, the county prepares to issue and sell a tax certificate, which is essentially an IOU for the delinquent taxes. Hillsborough's tax office advertised 33,106 tax certificates for sale last year to investors. This year that number jumped 29.8 percent, to 42,973. Pasco and Pinellas collectors haven't posted their advertised numbers yet, but based on the delinquent notices they've sent out, both expect huge numbers of certificates to hit the auction block.

For more, see As Housing Market Slumps, More Property Taxes Unpaid. delinquent tax problem