Chris Hughes,: Okaloosa County, Florida 2010 Tax Certificate Sale
Chris Hughes,: Okaloosa County, Florida 2010 Tax Certificate Sale
Chris Hughes,: Okaloosa County, Florida 2010 Tax Certificate Sale
Florida Statutes require the Tax Collector annually, on or before June 1st, to conduct
a sale of tax certificates on all lands on which taxes are delinquent for the preceeding year.
The Tax Collector must advertise the delinquent taxes in a newspaper that is published at least
once a week and is of general circulation in the county. The advertisement must run once a week
for three consecutive weeks prior to the tax certificate sale, and specify the place, date and time
of the sale.
For each delinquent tax parcel, the newspaper advertisement contains the sequential
advertising number, the property identification number (18-digits), the delinquent tax amount and
the property owner’s name. To research the property identification number, use the following
formula:
1. Section
2. Township 1 2 3 4 5 6
3. Range 00 / 00 / 00 / 0000 / 0000 / 0000
4. Subdivision
5. Block Number
6. Lot number
The delinquent tax amount includes costs (certificate’s face amount) which consists of the sum
of the following: real estate tax (unpaid amount), charge for late payment (4.5% for the months
of April, May and June on real estate tax amount), Tax Collector’s commission (5% on real
estate tax amount), and the newspaper’s advertising charge (and sale costs or other costs).
Tax certificates are a first lien on the real estate and bear interest at the maximum rate allowed
by law (18%) unless the bidder specifies a lower rate. All purchases go to the bidder who will
accept the lowest interest rate. However, when a tax certificate is redeemed and the interest
earned on the tax certificate is less than 5% of the face amount of the certificate, then a
mandatory charge of 5% is levied on the tax certificate. The person redeeming the certificate
pays the interest rate bid or the mandatory charge, whichever is greater. This applies to all tax
sale certificates except those with an interest rate bid of zero amount.
If there are no bidders for the delinquent taxes, a tax certificate is issued in the name Okaloosa
County and is retained in the possession of the Tax Collector. A tax certificate representing less
than $100.00 in delinquent taxes on property that has been granted a homestead exemption can
only be issued to the county at the maximum rate of interest allowed by law (18%).
County certificates, other than those relating to homestead real estate under $100.00, can be
purchased by individuals at the Tax Collector’s Office. The certificates on homestead real estate
under $100.00 can be purchased from the county when the certificates and the accrued interest
represent an amount of $100.00 or more. For each certificate purchased the Tax Collector shall
receive a fee of $6.25. Payment must be made at the time of purchase for costs incurred.
Real estate taxes in the State of Florida are for the calendar year and are payable November
1 of that year. If these real estate taxes are not paid on or before March 31 of the following
year, they become delinquent April 1.
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2010 Okaloosa County Tax Certificate Sale
At any time after two years have elapsed since April 1st of the year of issuance of the certificate
and before the expiration of the seven years from the date of issue, the individual certificate
holder may submit a tax deed application to the Tax Collector. Any certificate holder making
application for a tax deed, shall pay the Tax Collector an application fee, a title search fee and all
amounts required for redemption or purchase of all other outstanding tax certificates, interest,
omitted taxes, and delinquent taxes relating to the real estate. A parcel assessed as homestead
property on the current tax roll will have the amount equal to one-half of the current assessed
value added to the opening bid. The tax deed is issued to the highest bidder. Pursuant to Florida
Statutes 197.502 and 197.542, the tax deed applicant will be required to pay one-half of the
assessed value on homestead property if there are no other bids.
The redemption of a tax certificate can only take place at the Tax Collector’s office.
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2010 Okaloosa County Tax Certificate Sale
Certificate buyers need to be aware that there are risks involved with buying certificates,
and those risks are borne solely by the certificate holder.
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