Welcome to our FAQ! To find answers to your questions, please use the search feature below or browse the Featured Questions and Top 20 FAQs. If a FAQ does not answer your question, you can email our office for assistance by clicking on a specific FAQ, then clicking "I need more information about this subject" at the bottom of the answer.
|Back to Search Results|
|What is a tax certificate?
This answer has been viewed 1519 times and was last updated on 03/28/2012.
|Print this page|
A tax certificate is a first lien on real estate and bears interest at the maximum rate allowed by law (18%) unless the bidder's bid rate is lower. However, when a tax certificate is redeemed and the interest earned on the tax certificate is less than five (5%) percent, the mandatory charge of five (5%) percent is levied upon the tax sale certificate. The person redeeming (paying) the tax sale certificate pays the interest bid rate or the mandatory charge; whichever is greater. This applies to all tax sale certificates except those with an interest rate bid of zero (0) amount.
|Users who viewed this answer also found the following helpful:|
What payment methods are available for property taxes?
What are Ad Valorem Taxes?
How do I apply for Homestead Exemption on my property taxes?
What are Non-Ad Valorem Assessments?
I have a question about my Community Development District (CDD) assessment; who do I contact?