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.LienHub.com and bid the interest rate you are willing to accept.
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 Pasco Tax Collector Accounting Deptartment, at 352-521-4360, 727-847-8165, or 813-235-6020.