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by various Florida counties. Florida counties are authorized by
law to sell at auction tax certificates on real property for
which real property taxes have not been paid. Fla. Stat. Ann.
sec. 197.432 (West 1999 & Supp. 2001). Potential purchasers bid
in terms of the rate of interest they will accept on the
certificate’s face value from the real property owner in the
event of a redemption. Fla. Stat. Ann. sec. 197.432(5) (West
1999 & Supp. 2001). The face value of a certificate equals the
unpaid real property taxes, plus interest or other charges due
from the delinquent real property owner at the time of the
certificate’s sale. Fla. Stat. Ann. secs. 197.102(3), 197.432(5)
(West 1999 & Supp. 2001).
The purchase of a tax certificate creates a tax lien on the
underlying real property in favor of the purchaser. Fla. Stat.
Ann. sec. 197.102(3) (West 1999). Owners of the underlying real
property can extinguish such liens by redeeming the outstanding
tax certificates on their property.3 Fla. Stat. Ann. sec.
197.472 (West 1999). Outstanding tax certificates are redeemed
when the property owner pays the county tax collector the face
value of the tax certificate, plus interest accrued at the rate
3 If a tax certificate is not redeemed by the property
owner, the certificate’s holder can convert the certificate into
a tax deed at any time after 2 years from April 1 of the year of
the certificate’s issuance but before its expiration 7 years
after issuance. Fla. Stat. Ann. secs. 197.482, 197.502 (West
1999 & Supp. 2001).
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Last modified: May 25, 2011