|TAX COLLECTOR NEWS|
TAX CERTIFICATES GO UP FOR BID
Investors Are Encouraged To Participate In Tax Certificate Sale
Property Owners Are Reminded To Pay Delinquent Real Estate Taxes And Avoid Penalties
BARTOW, Florida/PR Free/May 4, 2012
Polk County Tax Collector Joe G. Tedder, CFC reminds property owners who have still not paid their 2011 real estate taxes that 5:00 PM on May 31 is the last possible day to pay those taxes before incurring additional interest and fees. On June 1, 2012, unpaid taxes will be sold through the Tax Collector's annual Tax Certificate Sale.
The Lakeland Ledger will publish the tax certificate listings three times this month: May 14, 21 and 28. The bidding process is expected to begin on May 5 and runs until June 1 (the date the online sale takes place).
To participate in the tax certificate sale, visit www.polkfl.realtaxlien.com.
For more information on tax certificates, visit www.polktaxes.com/taxcertificates.asp.
Real estate taxes (ad Valorem taxes) are due from November 1st through March 31st and become delinquent April 1st of each year. Taxes which are not paid are placed on an advertised list of properties which will be offered up for sale. A tax certificate represents a lien on real property and may earn interest at a maximum rate of up to 18% per year. The cost to purchase a certificate includes the gross tax, interest, advertising cost and the incremental cost of the Tax Certificate sale. The bidding begins at 18% and the certificate is sold to the person bidding the LOWEST annual interest rate.
In order to clear the property of the tax lien, the property owner must pay the amount of the tax certificate plus interest calculated from the month after the certificate sale to the month of payment or no less than 5%. All payments are made to the Tax Collector. The life of a tax certificate is seven years from the date of issuance. Neither tax certificates nor interest rates are guaranteed.
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