MONROE - Green County is seeing a continued dip in delinquent taxes, and this year is lower than ever.
"The dollar amount is the lowest it's been," said county treasurer Sherri Hawkins. "It's not huge dollars," she added, but in this economic environment, even a slight decrease helps.
Since 2010, the total of delinquent taxes has gone down $93,345. As of Jan. 1, 2012, Green County had about $1.5 million in delinquent taxes, which is still only a fraction of the $65 million the county collects annually in taxes.
Hawkins attributes the decrease to foreclosures and refinancing. Banks require property owners who refinance mortgages to pay off late taxes.
Due to foreclosures, more banks are on tax rolls than ever.
"We have more property in banks' names now than in the past," she said. This fluctuates, however. "A lot of those properties that were foreclosed on in 2011 are now being sold," she added, so the number of homeowners is gradually creeping back up on the tax rolls.
A couple of big payoffs led to the decrease in delinquent taxes this year, she said. A subdivision in the Town of York negotiated a deal to pay back taxes, and the former Laidlaw hanger factory in Monticello paid off taxes via foreclosure.
Procrastinating on paying taxes is costly. Each month taxes remain unpaid, the county levies 1 percent in interest and a half percent in penalties.
"So you're looking at 18 percent if your taxes are delinquent for a full year," Hawkins said.
"The dollar amount is the lowest it's been," said county treasurer Sherri Hawkins. "It's not huge dollars," she added, but in this economic environment, even a slight decrease helps.
Since 2010, the total of delinquent taxes has gone down $93,345. As of Jan. 1, 2012, Green County had about $1.5 million in delinquent taxes, which is still only a fraction of the $65 million the county collects annually in taxes.
Hawkins attributes the decrease to foreclosures and refinancing. Banks require property owners who refinance mortgages to pay off late taxes.
Due to foreclosures, more banks are on tax rolls than ever.
"We have more property in banks' names now than in the past," she said. This fluctuates, however. "A lot of those properties that were foreclosed on in 2011 are now being sold," she added, so the number of homeowners is gradually creeping back up on the tax rolls.
A couple of big payoffs led to the decrease in delinquent taxes this year, she said. A subdivision in the Town of York negotiated a deal to pay back taxes, and the former Laidlaw hanger factory in Monticello paid off taxes via foreclosure.
Procrastinating on paying taxes is costly. Each month taxes remain unpaid, the county levies 1 percent in interest and a half percent in penalties.
"So you're looking at 18 percent if your taxes are delinquent for a full year," Hawkins said.