The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-10-03
New Law as to Delinquenoies
Encourages Speculation.
OFFERS SAFE INVESTMENT.
County Receives $780, 600 In Taxes
which Would Perhaps Not other
wise Have Been Paid-straugers
Get Liens on Good Property
Terms of New Law-Larxe Blocks
Of Certificates Sold to Easterners.

A ousrter OF A million % dollars invest
ed In delinquent tax certificates by saecu-
larors :n King county alone Is the most
tangible resu.t OF the tax law passed oy
the fusion legislature OF 1856.
The fusiaDls.s at the county court mouse
are highiy pleased with the workings Of
the nss law. So are the spectators. But
many taxpayers fail 10 see the bright side
OF IT, Irrespective of party. those who are
unfortunate n not being able TO meet fhefs
taxes condemn the Law, and brand II as
me bass of mercileSs arrange ment ~AeTe-
by the county gives into the hands or the
spectators for a cold cash consideration
the right 10 collect the coun'y's taxes and
enforce against needy taxpayers lien
which the latter declare IS not, and should
not be ass!gnable. The keynote Of this
complain. was sounded by one taxpayer
when ne said that To have the county
profit from his misfortune was bad. but 10
have "A speculator AID "A total stranger co
SO was Infinitely worse
Incidentally the county has received in
the nesghborhood of $50. 900 IN taxes which
would perhaps not have otherwise been
paid Spectators who make their aviEg
by investing in tax titles and other incun-
brances against the real estate OF property
owners, temporarily embarrassed for ready
money, cay that probably less tnan SOY. W.
Of this an cunt has been invested IN the
certificates hy persons interested in the
property the balance being the money OF
strangers. having az their so.e object the
obtaining of the highest possible interest
u.,on absolutely safe investment.
Such safe and profitable investment the
delinquency certificates undoubtedly aHords
The property owner. before he may read
his title clear. must pay 10 the holder thu
amount of the certificate representing the
principal Of all unpaid taxes on his prop
erty together with interest at the rate of
- per Gent from the date OF delinquency
h.. hot If rrasl In fr1sal
time the certificate Is "a binding lien. The
spsculator is absolutely assured against
any loss
/ r.der me former tax collection laws the
specuiator who invested in tax titles at
sales made by the county was compelled to
take many risks Mistakes in assessment,
clerical errors of the treasures's clerks and
similar matters were of necessity 10 be
carefully watched for. The county war
rarted nothing. Under the new law. how
ever, the county warrants the assessment
and all proceedings under 1t. and in case
any error Is discovered the spectators
money is refunded with interest at the rate
Of per cent.
The New Law.
The new ia Is very comprehensive. and
as most persons. not being engaged in
speculation. are unfamiliar with it's terms.
a brief statement of its more important
provisions may not be cut of place. II
provides that at any time after taxes be-
come delinquent the county treasurer shall
upon the payment 81 the taxes and inter-
est upon any particular piece or pieces Of
property. issue 10 the person making the
payment certificate Of delinquency guar
anteed by the county As above stated and
bearing interest al 10 per cent
L Mess in the meantime the property
owner takes up the certificate by paying
20 its holder the taxes and interest as pro-
vided by The law, three years after the
FIRST day Of the December next following
the date OF delinquency. the holder of the
certificate Is authorized To give notice TO
the owner. personally. that within twenty
days he VIII Apply TO the superior court
for tax deed 10 the property covered by
the certificate. II the property owner be
nonresident. he is eiv.r notice by puh-
LEGATION AID allowed sixty days to appear.
Upon the expiration OF the tim. required
by This notice. II the owner takes no action
the court Is required TO enter a Judgment
foreclosing. precisely as Il mortgage IS fore
closed. the lien OF the tax certificate and
ordering the treasurer 70 Issue Il deed TO
the property 10 the person holding the GER
Utcate.
Before issuing the deed the treasurer
posts notices for ten days and offers the
property Tor sale al public auction. Should
any other person then offer for the pyopertv
more than the amour, Of the claim repre-
sented ny the certificate the property is
decided 10 him. Otherwise the holder OF
the certificate obtains a deed After the
deed Is issued there is no redemption. pro-
Vided the person receiving the deed com
piles with the law by filing il for record
within one year