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.
Bidding Procedure
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.
- 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.LienHub.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.
Miscellaneous
- Certificates are not sold on Homestead Exempt Parcels with tax under $250.00.
Important Notice
- 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.
- Purchasing a Tax Certificate on a parcel does not entitle the purchaser to enter the property or harass the property owner in any 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.
- There are inherent risks involved in purchasing Tax Certificates.
- Bidder's deposits are subject to forfeiture if final payment for certificates is not received in a timely manner.
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.