That money goes directly to the county, not the certificate holder. Once the county clears the tax bill, it pays the certificate holder the initial amount paid to buy the bill plus interest charged. Should an owner not meet the obligation in two years, the county may auction the property off to the highest bidder, with money from the sale used to pay back the certificate holder's lien. This is the first time we've been below 3,000 in seven years. From the time the tax collector advertised the auction May 11, owners of 1,574 parcels paid their taxes to avoid going to auction.
People are real good at paying their taxes in Manatee County.
The remaining 479 certificates, on which no bid was received, were deferred to the county. One parcel belonging to Piney Point Phosphates represents almost half of that. The auction was held all day Thursday and through noon Friday. It is a way for county government to collect back taxes owed on properties. Once the county accepts a bid, the investor pays the taxes owed and receives a tax certificate for the property.