Volusia County’s annual sale of tax certificates is underway and continuing through the end of the month.
“This is an online auction,” Tax Collector Will Roberts told The Beacon. “People can continue to bid on the list of properties until May 31. That’s when the sale closes.”
To participate in the sale, go to LienHub.com for information about registration and a list of properties for which tax certificates will be sold.
A tax certificate is a document representing the payment of delinquent property taxes. The person purchasing a tax certificate must pay the ad valorem taxes and special assessments owed on a parcel, with the understanding that he/she will be repaid, with interest, by the property owner. The interest rate may be as high as 18 percent per annum. The owner of the property in question may redeem the certificate by reimbursing the person holding the certificate, plus the interest.
A person who purchases a tax certificate must hold it for at least two years before foreclosing on the property to force the sale of it to satisfy the debt.
Unpaid 2020 property taxes became overdue April 1, and any taxes paid after that date become subject to interest and penalties.
A person who purchases a tax certificate must hold it for at least two years before foreclosing to force the sale of the property to satisfy the debt. The public sale of the property is by auction to the highest bidder, who, upon paying the taxes plus extra fees, receives a tax deed showing he/she owns the property.
The buyer of a tax certificate may keep it for as long as seven years. The certificate expires seven years after the date of its issuance, and its owner may not recover the money paid.
For this year, the Tax Collector’s Office offered 15,275 tax certificates for sale. Some of the properties shown on the list may be removed if the owner pays the delinquent taxes this month. The number of tax certificates is down from the 18,191 available in last year’s sale. In any event, the tax certificates this year represent approximately $21.9 million in unpaid property taxes.
If any tax certificates are not purchased before June 1, the county becomes the purchaser of last resort and may offer the certificates for sale again at a later date.