NEWS RELEASE
For Immediate Release, November 19, 2005
Contact: Nikki Jaworski, (937) 225-4010 Ext. 115
9 Million Dollar Pay Day
Today, Montgomery County Treasurer Hugh Quill collected a single payment of $ 9.1 million dollars in delinquent taxes from Montgomery County's first ever tax lien sale.
Quill announced in January that the Treasurer's Office would implement the aggressive new program that expedites tax revenue to local schools and governments.
"Throughout my tenure as Treasurer I have focused on tax fairness, first by starting the Delinquent Dozen and now through the sale of tax liens. Citizens can now expect swift consequences if they shortchange our kids. When people purchase property there is a covenant with the kids that is non-negotiable," said Quill.
The $9 million collected from today's lien sale is just a small fraction of the additional tax dollars Quill has generated this year.
"After our regular semiannual collections, our office increased collections by $33 million. From August through November 18th we collected an unprecedented $17 million in delinquent taxes. Today's sale will boost our additional revenue to nearly $60 million dollars that will be distributed to schools and fund vital county and city services," said Quill.
Liens were sold today on 1986 delinquent parcels to American Tax Funding Servicing at an interest rate of 18%. Over half of the liens sold will directly benefit the City of Dayton and its schools.
"I am proud of my treasury team with their commitment to change the culture of collection and their willingness to reinvent our processes to better serve the community," said Quill.
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