The clock is about to strike midnight on county residents who owe delinquent taxes.

Cherokee County Delinquent Tax Collector Roy Price said back taxes amounting to $375,181 are owed on 318 properties as of Thursday afternoon.

Property owners have until 5 p.m. today to pay their taxes or risk losing their properties on the auction block. The delinquent tax office is located at the county administration building.

This year's delinquent tax sale is scheduled for Monday, Nov. 5, at 10 a.m. at the Cherokee County Probate Court office. Properties will go to the highest bidders. Sometimes, the highest bidder is a corporation, which purchases the parcels to pocket interest payments.

Price said corporations from New Jersey and Florida are expected to bid at at this year's tax sale.

But the highest bidder doesn't necessarily end up with the deed. Property owners have a year to reclaim their land by paying the delinquent taxes and interest.

A year ago, 227 properties were sold at the delinquent tax sale and about half of those were reclaimed.

Properties that aren't reclaimed or sold are forwarded to the Forfeited Land Commission.

"A person can come in and ask if there are any properties at the Forfeited Land Commission and the county can assign a bid to them," Parris said.