The sale of delinquent property tax bills is just around the corner, and a listing of those tax bills in delinquency will be published in the August 8 issue of the Clinton County News.
Clinton County Clerk Sheila Booher reminds people who have not paid their past year’s 2012 property tax have until September 9 to pay or their tax bills will be sold on September 10 at 9 a.m. and most of those will go to third party people, or companies, who can make money on the bills at the expense of the property owners.
Although many people are under the impression that a delinquent property tax sale means the property itself is being sold, only the tax bills themselves are sold and if the property owner wants them, or their property titles back, they have to pay the person or company who purchases them to get them back–usually at a rate two to three times higher than the original tax bill.
Third parties who wish to bid on delinquent tax bills must register with the clerk’s office at least 15 days prior to the sale.
Booher noted that once a company or third party purchases the bill, if the property owner wants to get it back, they must buy it from the company at a much higher costs. She said that although anyone can register now to purchase the delinquent bills, companies usually wait until a list is published, which in this case will be in the August 8 issue.
The county clerk reminds the over 500 people who own property locally and are delinquent on their taxes, that to avoid having their names published or their bills purchased by third parties, they need to pay their property tax by September 9.
Kentucky Revised Statutes allow companies who purchase delinquent tax bills to sell them back at interest rates as high as 12 percent per year, pre-litigation attorney’s fees, administrative fees of up to $115 and a third party purchaser may also collect “actual, reasonable attorney’s fees and costs that arise due to the prosecution of collection remedies or the protection of a certificate of delinquency that is involved in litigation.”
After holding the delinquent bill, if the property owner doesn’t buy back the bill, the company can force the property to be sold.
Booher said the delinquent bills are turned over to the county clerk from the sheriff’s office after the April 15 deadline each year, and fees automatically begin.
Several properties have actually had to be sold due to the tax bills not being paid by the original property owner, and in these instances, the company or third party which purchases the delinquent bill will get their share up front from the sale of that property, and in some other cases, banks may also have liens and get their money before the actual property owner sees any revenue from the sale of the property.
Booher reiterates that persons who have delinquent tax bills and wish to avoid having them sold to third party’s or have their names and tax amounts published to try and get those paid by August 5 (to avoid publication) and no later than September 9 to avoid having the bills actually sold.
Anyone with questions about their tax bills, delinquent tax status or needing more information should call the clerk’s office at 606-387-5943 or on their website: www.clinton.clerk.info.net.