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Florida

Tax Sale Information

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State Summary

Florida is both a tax lien and a tax deed state. Delinquent properties are sold at the tax lien sale and, if they do not redeem within the redemption period, they are sold at auction in a deed sale to satisfy the lien holder. Tax lien sales are referred to as tax certificate sales and are the responsibility of the county tax collector.

Florida is the most popular state for tax sales. The maximum interest rate is 18% and the redemption period is two years. The interest is bid down in intervals. Bidding has become so competitive in Florida that frequently liens are sold at an interest rate of 18%. However, there is a minimum penalty of 5%. If you bid less than 5% and the lien redeems, then the 5% penalty is paid instead of the amount you bid, so you are guaranteed a minimum return of 5%.

In order to bid at the tax lien sale, most counties require you to register before hand with a large refundable deposit. Many Florida counties are now conducting their tax sales online. The first year that Miami-Dade County had an online tax sale, according to the tax collector’s website, the sale was a big success for the county. They had more bidders than ever before and sold all of their tax certificates – 32,000 total. Most of them were bid down to an interest rate of only .25%. This was great for the county, but not so good for investors.

Summary courtesy of Joanne Musa's State Guide