TAX SALE INFORMATION
|Real estate taxes become delinquent April 1st. Florida law
requires the taxes to be advertised once each week for three weeks, and a Tax Certificate Sale to be held on or before June 1st.
This sale allows individuals, financial institutions, and other legal entities to buy certificates by
paying the tax, plus fees and interest. A Tax Certificate is a lien on the real estate (not the owner) and becomes the basis upon which a Tax Deed Application can be filed.
The purchase or redemption of a Tax Certificate does not convey title or legal interest in property. After two years have elapsed from April 1st of the year of issuance of the Tax Certificate, a Tax Deed
Application (TDA) may be filed by the certificate holder.|
- Florida law provides for a maximum interest rate of 18% and a minimum of 0%. When a Tax Certificate is redeemed and the interest earned on the Tax Certificate is less than 5%,
a minimum rate of 5% interest shall be earned on the Tax Certificate. Minimum does not apply to zero percent bids.
Bids proceed downward and must be in even increments (18 %, 17% etc.) or in fractional increments of
¼% (17¾%, 17 ½%, 17¼%, etc.).
- If you wish to bid on parcels, you may register on our Internet auction site at www.bidpasco.com and bid the interest rate you are willing to accept.
- Parcels are auctioned in batches and in the sequence listed in the newspaper advertisement.
- All interest will be reported to the Internal Revenue Service.
- All deposits (10% minimum) and final payments must be made by ACH (Automated Clearing House) on our Internet auction site at www.bidpasco.com.
- Final payment must be made by ACH and is due within 48 hours of notification
- Certificates will be issued by an electronic listing rather than individual document certificates.
- Certificates are not sold on Homestead Exempt Parcels with tax under $250.00.
- Certificates are not knowingly sold on parcels involved in bankruptcy or litigation. If bankruptcy
or litigation occurs
after a certificate is issued, the court may determine the amount of interest
to be paid. Bankruptcy or litigation may extend the life of a certificate and
places an automatic stay on the Tax Deed Application process.
- There are inherent risks involved in purchasing Tax Certificates.
- Purchasing a Tax Certificate on a parcel does not entitle the purchaser to enter the
property or harass the property owner in any manner.
- A Tax Certificate Sale is not a sale of land, but the sale of a lien for the amount of delinquent
tax plus interest, advertising costs and fees.
- Bidder's deposits are subject to forfeiture if final payment for certificates is not received
in a timely manner.
- Two years from the date the tax became delinquent, the certificate holder is eligible to file for the
Tax Deed. The certificate holder does not receive title to the property until the
Tax Deed Sale held by the Clerk of the Circuit Court.
- The offer or sale of vacant residential lots or parcels may be subject to the requirements of
Chapter 498, Florida Statutes, and may require you to be registered with the Florida Department
of Professional Regulation, Division of Florida Land Sales, Condominiums, and Mobile Homes. As a
point of information, an individual (who is not a developer) is allowed to buy a Tax Deed for only
one lot in a platted subdivision for the purpose of resale. Chapter 498.025(1), states: The Provisions of this
chapter do not apply to:
The Bureau of Florida Land Sales has further stated that its concerns are with providing disclosure
to persons who are successful bidders, and if unpaid after 2 years apply for a Tax Deed Application, and, if at the courthouse public auction obtain multiple Tax Deeds, for the purpose to resale
multiple purchasers. This applies only to sales in subdivisions containing 50 or more lots, parcels or
units as defined in Chapter 498.005(21)(a) (b), and is categorized as vacant residential.
- "The offer of disposition of an interest in subdivided
lands by a purchaser for his or her own account in a single isolated transaction".
|ACH Direct Deposit Information|
|As of March, 2012, we can direct deposit tax certificate redemption funds via ACH to purchasers' bank accounts. For existing tax certificate purchasers on record prior to the May / June 2012 Tax Certificate Sale this is an option; for new buyers who purchase tax certificates as of the 2012 sale and later, utilization of direct deposit is mandatory. If you are not enrolled in the ACH Direct Deposit Program, please review and complete the authorization agreement and
return to our office. |
|For further information contact Abby Noyes, Accounting Manager, at 352-521-4360, 727-847-8165, or 813-235-6020. |