Floyd County Tax Commissioner Kevin Payne said Rome businessman Larry Martin has reduced the number of his properties that are still listed for potential sale by perhaps 25 percent.
Martin had more than 150 properties listed in legal advertisements for the sale in recent weeks. “We started off with somewhere around 175, as I sit here, I think we’re down to around 130 properties left,” Payne said. “Larry has paid a few but most of those have been paid by banks, lienholders and I am still very hopeful that they are going to get paid.”
Payne could not provide a specific number but guessed that somewhere between $200,000 and $250,000 in back taxes have been paid. “A lot of them did pay 2009, 2010, 2011 and even 2012. Some of those were pretty good sized properties,” Payne said.
The tax commissioner said he felt that all or most of Martin’s properties will have some taxes, enough to have the properties taken off the sale, by Tuesday morning.
“I’ve got a feeling that some of these banks will not pay me until Tuesday morning,” Payne said. “We could be sitting here Tuesday morning with 100 properties and they may all get paid between 8 a.m. and 11 a.m. That wouldn’t shock me.”
Payne said that lienholders who are not going to let the properties be sold for taxes secure most of the properties. “The ones that aren’t Larry can probably pay enough to get them off the sale,” Payne said. “It makes me a little nervous but we’ll see what happens.”
Martin confirmed that he is making progress on the back taxes but also stressed that just because someone picks up property at a tax sale, that the original property owner still has a full year to redeem the property.