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By
Statute, real estate taxes have to be paid
annually in Florida. When property taxes are
unpaid, Tax Collectors in Florida issue a real
estate Tax Certificate on the properties with
unpaid taxes that investors may purchase. The State of Florida allows investors
to earn up to 18% per year on the certificates, which
are auctioned annually.
When the property tax is paid in full, the
certificate is redeemed and the certificate
holder is paid their principal investment plus
interest. In the event that the certificate
remains unpaid for 22 months following its
issuance, the certificate holder has the right
to apply for a Tax Deed on the property and
initiate a Tax Sale.
In the event of a tax sale,
the action is administered on behalf of the tax
deed holder by the Clerk of Court in the County
where the property
is located. |
