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Osceola County Missing More Than $45 Million In Property Taxes

Posted: 7:35 am EDT May 16, 2008

Osceola County is missing $45 million in property tax revenues because thousands of homeowners haven't paid their share.

Throughout the county, 14,000 homeowners have yet to pay their property taxes. Eyewitness News learned that just in one upscale Reunion community there is more than $500,000 in unpaid taxes.

Osceola County's tax collector is confident investors looking to earn some interest will pay off the overdue taxes in exchange for tax certificates. Normally the property owner is charged 5-percent interest.

For homeowners who have two years to pay the investors back, the interest rate is better than the bank's.

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