It has been shown that people make systematic errors in the localization of a brief tactile stimulus that is delivered to the index finger while they are making an arm movement. Here we modeled these spatial errors with a probabilistic approach, assuming that they follow from temporal uncertainty about the occurrence of the stimulus. In the model, this temporal uncertainty converts into a spatial likelihood about the external stimulus location, depending on arm velocity. We tested the prediction of the model that the localization errors depend on arm velocity. Participants (n = 8) were instructed to localize a tactile stimulus that was presented to their index finger while they were making either slow- or fast-targeted arm movements. Our results confirm the model's prediction that participants make larger localization errors when making faster arm movements. The model, which was used to fit the errors for both slow and fast arm movements simultaneously, accounted very well for all the characteristics of these data with temporal uncertainty in stimulus processing as the only free parameter. We conclude that spatial errors in dynamic tactile perception stem from the temporal precision with which tactile inputs are processed.