The Real Deal Miami

Homeowners owe private companies for property taxes

August 19, 2009 08:59AM

Increasing numbers of homeowners are falling behind on property taxes. But because many cities and counties have sold delinquent tax bills to private companies over the past few years, homeowners are now responsible to those companies for their tax bills. Housing advocates argue that the private companies are making the foreclosure crisis worse by pushing residents out of their homes sooner than the government would. Local governments also charge homeowners lower interest rates for unpaid tax bills than private companies do and are more concerned about the long-term impact of foreclosures on a neighborhood.