A recently released report obtained by the Sentinel has brought to the forefront a rare development. As stated by the report, there has been an exponential rise in the number of people unable to pay their property taxes this year and this is certainly a new record in the county of Santa Cruz. What’s more, in this segment, persons belonging to different echelons of the society irrespective of the affluent or impoverished are present. You can find some of the region’s biggest industries in the list even. However, the experts affirm that this an emblem of the worsening condition of the economy.
In this list of property tax delinquents, according to Sentinel, there is the presence of more than 5,000 property owners. Who are the biggest delinquents then? Well, the list is quite big and includes commercial and housing developers, hotel owners and real estate investors. Fred Keeley, the well-known Treasurer-Tax Collector after a thorough estimation of the delinquency list said, “This economic downturn is both wide and deep. I don’t see that it spares any sector in our economy.”
Now let’s concentrate on the debtors. The first of them or the biggest debtor happens to be the broker behind the proposed Target store in Scotts Valley, Title II Inc. of San Francisco. The company’s unpaid property tax bill is $141,000, as of last month. But the company is not trying to ignore the reality and Ruben Helick, who is representing Title II Inc., admits the problems that the company is facing. He, as has been learnt, is hopeful that the company will settle up once a final decision on the project is provided. Furthermore, as stated by Helick, the company has already paid out hundreds of thousands of dollars in property taxes as it’s waited for city approval.
The next notable delinquent is Sabrina Patel, who is the owner of three motels in Santa Cruz and is learnt to operate a $42,000 backlog on her property tax payments.
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