The collection of real estate taxes for properties located in Gulf Hammock Florida is a major priority for the Levy County Florida Tax Collector. Real estate taxes fund local services such as public education, police protection and medical services.
Delinquent property taxes create a serious cash-flow problem for Levy County Florida. If Levy County Florida is unable to collect property taxes, they are also unable to fund important government services like police protection, public schooling, and emergency medical services.
Without the tax revenue generated from real estate located in Gulf Hammock Florida, Levy County Florida would literally go bankrupt.
To solve this cash-flow problem, Levy County Florida allows investors to come in and pay off a portion of these delinquent property taxes.
In return, Levy County Florida gives investors Florida tax lien certificates. A tax lien certificate is a document indicating ownership of a real estate tax lien. A tax lien is simply a claim for taxes.
A Florida tax lien certificate transfers all the rights that come with being the owner of the real estate tax lien from Levy County Florida to the investor.
When purchasers buy tax lien certificates in Florida, they are paying someone else's delinquent property taxes. What's more, Florida actually gives purchasers the right to receive all of the tax money due - including fees, interest, and/or penalties.
To encourage delinquent owners to pay their past-due property taxes, the state of Florida charges up to 18% per annum on the amount paid to satisfy the delinquent taxes, which is passed directly to the tax lien certificate purchaser.
The sale of tax lien certificates is a solution to a complex problem Levy County Florida recovers lost revenue needed to fund local services, the property owner gets more time to satisfy their delinquent property tax bill and the purchaser receives a tax lien certificate which is real estate secured and offers up to 18% per annum mandated by Florida law.
For "risk-sensitive" investors Florida tax lien certificates are an attractive alternative to traditional investments choices. With tax lien certificates, purchasers are investing their money with Levy County Florida and when the Levy County Florida Tax Collector collects the past due taxes, they send purchasers a check, returning what they paid to purchase the Florida tax lien certificate plus applicable penalties, interest, and/or late fees.
Florida tax lien certificates are attractive in several ways. First, the rise and fall of interest rates has no effect on Florida tax lien certificates. Unlike the stock market, interest rates on Florida tax lien certificates are mandated by Florida law.
In addition, Florida tax lien certificates are secured by real estate. So if purchasers do not receive what they paid to purchase the Florida tax lien certificate plus interest and/or penalties within the law mandated redemption period, the purchaser acquires title to the property free and clear of all liens created prior to the sale.
So in review, there are generally two outcomes with the purchase of a tax lien certificate; the purchaser will either receive what was paid to satisfy the delinquent property taxes PLUS up to 18% per annum, or Levy County Florida has the legal right to transfer them the property - often with no mortgage!
Once they own the property they can do whatever they like; sell it, rent it for monthly cash-flow, even move in (often with no mortgage payment).
As with any investment, there is always an element of risk. Even if the tax sale process is written into Florida law, mandated by Florida law, and regulated by Florida law, there is still a chance of purchasers incurring substantial loss. It is recommended that anyone considering buying a tax lien or tax foreclosure property consult properly licensed legal and accounting professionals.
Below you will find a collection of the latest user questions and comments relating to Tax Lien Certificates on tax-delinquent property located in Gulf Hammock Florida.
The following is a list of counties located in the state of Florida. Tax Lien Certificates for properties located in the following counties are sold at Florida county tax sales.
Learn more about each county's individual tax sale process by clicking on the name of the county for which you are interested from the list below:
|County / Municipality:||Population:|
|Alachua County, FL||217,955|
|Baker County, FL||22,259|
|Bay County, FL||148,217|
|Bradford County, FL||26,088|
|Brevard County, FL||476,230|
|Broward County, FL||1,623,018|
|Calhoun County, FL||13,017|
|Charlotte County, FL||141,627|
|Citrus County, FL||118,085|
|Clay County, FL||140,814|
|Collier County, FL||251,377|
|Columbia County, FL||56,513|
|Desoto County, FL||32,209|
|Dixie County, FL||13,827|
|Duval County, FL||778,879|
|Escambia County, FL||294,410|
|Flagler County, FL||49,832|
|Franklin County, FL||11,057|
|Gadsden County, FL||45,087|
|Gilchrist County, FL||14,437|
|Glades County, FL||10,576|
|Gulf County, FL||13,332|
|Hamilton County, FL||13,327|
|Hardee County, FL||26,938|
|Hendry County, FL||36,210|
|Hernando County, FL||130,802|
|Highlands County, FL||87,366|
|Holmes County, FL||18,564|
|Indian River County, FL||112,947|
|Jackson County, FL||46,755|
|Jefferson County, FL||12,902|
|Lafayette County, FL||7,022|
|Lake County, FL||210,528|
|Lee County, FL||440,888|
|Leon County, FL||239,452|
|Levy County, FL||34,450|
|Liberty County, FL||7,021|
|Madison County, FL||18,733|
|Manatee County, FL||264,002|
|Marion County, FL||258,916|
|Martin County, FL||126,731|
|Miami Dade County, FL||2,253,362|
|Monroe County, FL||79,589|
|Nassau County, FL||57,663|
|Okaloosa County, FL||170,498|
|Okeechobee County, FL||35,910|
|Orange County, FL||896,344|
|Osceola County, FL||172,493|
|Palm Beach County, FL||1,131,184|
|Pasco County, FL||344,765|
|Pinellas County, FL||921,482|
|Polk County, FL||483,924|
|Putnam County, FL||70,423|
|Santa Rosa County, FL||117,743|
|Sarasota County, FL||325,957|
|Seminole County, FL||365,196|
|St Johns County, FL||123,135|
|St Lucie County, FL||192,695|
|Sumter County, FL||53,345|
|Suwannee County, FL||34,844|
|Taylor County, FL||19,256|
|Union County, FL||13,442|
|Volusia County, FL||443,343|
|Wakulla County, FL||22,863|
|Walton County, FL||40,601|
|Washington County, FL||20,973|
Reference for all fifty (50) states detailing tax sale type (lien, deed, hybrid), interest rate, penalty rate, redemption period, and more.
Simply enter your name and e-mail address to get free instant access to this powerful "Tax Sale Cheat Sheet".