Property tax lien certificate sale brings in $2.2 million for county

YOUNGSTOWN -- Mahoning County Treasurer John Reardon says this week's property tax lien certificate sale netted $2.2 million for the county's taxing districts, and an additional $2 million was collected from delinquent taxpayers in the last month.
About 25,000 certified letters were mailed in October to warn those real estate owners that their parcels would be sold Nov. 30 unless they paid their taxes.
"Hundreds of delinquent property tax owners came through our doors in November with tax payments," Reardon said.
A negotiated lien sale allows the treasurer to sell the county's lien against delinquent properties to the highest bidder. The buyer can collect the past-due amount from property owners with interest, or foreclose to recover the investment if owners don't pay within a year. If the buyer bought a tax lien certificate for less than the total amount of delinquent taxes and later forecloses, the balance of the delinquency is removed from the county's books.
It's the seventh time since November 2000 that the treasurer's office has conducted such a sale. More than $34 million has been collected to date.
Reardon expects to hold two tax lien certificate sales per year, he said.
The county auditor distributes the collected taxes to the appropriate districts, with schools receiving the largest portion of money.