Real Estate Tax

Tax Certificate Sale

Florida Statute Chapter 197, indicates that the Tax Collector must start the tax certificate auction on or before June 1st. The Hillsborough County Tax Collector holds an online Tax Certificate Sale/Auction. In an online tax certificate sale the bids are transmitted and received through the HCTC Tax Lien site.

Electronic bidding provides numerous benefits to tax certificate investors as well as the citizens of Hillsborough County. Internet auctions not only increase the speed and efficiency of the tax certificate sale, but ensure the prompt and accurate collection of delinquent tax revenue needed to fund vital county services. In addition, it is a convenient way to invest in tax certificates without leaving the comfort of your home or office.

Tax certificates convey no property rights. They are an interest bearing “lien”. Prior to the auction, the list of delinquent properties is advertised once a week for three consecutive weeks.

The interest on a tax certificate ranges from 0 to 18%. Valid bids may be entered between 0 and 18% in 0.25% increments. If the tax certificate is redeemed after June 1 the tax certificate holder is guaranteed a minimum of 5% interest. Zero percent bids will not earn the 5% minimum interest. Bids are entered and awarded to the buyer with the lowest interest rate bid. Simple interest accrues on a monthly basis. If the tax certificate earns an interest rate of 12%, then interest will accrue at the rate of 1% per month until the tax certificate is redeemed.

Upon redemption of delinquent taxes, accrued interest and advertising costs, the Tax Collector’s office then reimburses the tax certificate holder/investor all monies due.