Phillips County officials Wednesday accepted a check in the amount of $135, 763. 12 in state turnback funds from Commissioner of State Lands John Thurston. The funds originate from the sale of tax delinquent properties in the county certified to the Commissioner of State Lands Office.
The Commissioner's tax delinquent real estate sale in Phillips County will be held 10 a.m. Wednesday, May 15 at the Chamber of Commerce in Helena. Delinquent property owners are strongly urged to pay the taxes on the property before it is put up for sale.
In order to do this, the property owner must contact the Commissioner's office and request the proper paperwork. Then, the owner must pay the full amount of the delinquent taxes, penalties and interest owed.
Likewise, prospective buyers must also contact the Commissioner's office for more information concerning buying tax delinquent land, or visit the office's website at www.cosl.org.
“Once properties are redeemed by the original owner or sold at public auction, the funds collected are forwarded to the respective counties, where the property is located, one year after the collection date,” stated Thurston.
Thurston and his staff work diligently to collect this key source of revenue from delinquent land parcels.
“The good news is that most of the revenue we collect is through the redemption of delinquent parcels by the original owner,” reported Thurston. “Property taxes play a vital role in the stability of county revenues. Public schools and county services depend on real estate tax dollars to aid in funding their programs. Without these funds our communities might miss out on essential programs and growth.”
The Commissioner's office works with officials in all 75 Arkansas counties to ensure the collection of property taxes.
“Our county officials are the boots on the ground workers in this process,” said Thurston. “We appreciate all that they do and we would not have collected these turnback amounts without working hand-in-hand with them on a daily basis.”