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GAdam...@aol.com
May 19, 2009, 6:23:15 PM5/19/09
to taxl...@googlegroups.com
I have a copy of your book. When applying for a tax deed do you truly have
to pay 1/2 assessed value or am I misunderstanding this??
Prior to applying for tax deed foreclosure it may be advisable to check for
any existing liens on the property. Sec 197.552, Florida Statutes, provides that
unsatisfied governmental liens shall survive the issuance of a tax deed.
To apply for a tax deed, the tax deed applicant shall do the following: (a) submit a signed application (b) pay all amounts required to redeem all outstanding tax certificates not owned by the applicant (c) if due, pay current taxes (d) pay a fee of $100 for a title search fee (e) pay a $75 application fee (f) pay a $60 Clerk of Circuit Court fee. Note: All fees are subject to change at any time.
At a later date, the Clerk of the Circuit Court will notify the applicant of the sale date and additional cost, which the applicant must pay. These costs include the advertising cost, mailing cost and Sheriff’s fee. In Hillsborough County, the sale will take place in approximately 2 -3 months following this notification. The property will be sold to the highest bidder at a public sale.
For properties without homestead exemption on the current tax roll, the opening bid will include all cost and delinquent taxes plus interest. For properties with homestead exemption on the current tax roll, the opening bid shall include, in addition to all cost and delinquent taxes plus interest, an amount equal to one-half (1/2) of the assessed value of the homestead property as listed on the current year’s tax roll.
In the event the non-homestead property does not sell, the applicant is required to take deed to the property. If the homestead property does not sell, the applicant must pay the additional one-half (1/2) assessed value in order to take deed to the property. If the applicant elects not to pay the additional amount, the property will be entered onto the List of Lands Available for Taxes.
Property not purchased from the List of Lands within 3 years will escheat (revert) to the county and the applicant’s investment is lost.
Buyers beware. Know what you are purchasing.
To apply for a tax deed, the tax deed applicant shall do the following: (a) submit a signed application (b) pay all amounts required to redeem all outstanding tax certificates not owned by the applicant (c) if due, pay current taxes (d) pay a fee of $100 for a title search fee (e) pay a $75 application fee (f) pay a $60 Clerk of Circuit Court fee. Note: All fees are subject to change at any time.
At a later date, the Clerk of the Circuit Court will notify the applicant of the sale date and additional cost, which the applicant must pay. These costs include the advertising cost, mailing cost and Sheriff’s fee. In Hillsborough County, the sale will take place in approximately 2 -3 months following this notification. The property will be sold to the highest bidder at a public sale.
For properties without homestead exemption on the current tax roll, the opening bid will include all cost and delinquent taxes plus interest. For properties with homestead exemption on the current tax roll, the opening bid shall include, in addition to all cost and delinquent taxes plus interest, an amount equal to one-half (1/2) of the assessed value of the homestead property as listed on the current year’s tax roll.
In the event the non-homestead property does not sell, the applicant is required to take deed to the property. If the homestead property does not sell, the applicant must pay the additional one-half (1/2) assessed value in order to take deed to the property. If the applicant elects not to pay the additional amount, the property will be entered onto the List of Lands Available for Taxes.
Property not purchased from the List of Lands within 3 years will escheat (revert) to the county and the applicant’s investment is lost.
Buyers beware. Know what you are purchasing.
Don
Jun 3, 2009, 6:23:28 AM6/3/09
to Investing Without Losing
>> I have a copy of your book. When applying for a tax deed do you truly have
>> to pay 1/2 assessed value or am I misunderstanding this??
You have to pay what the value is during the auction.
>> to pay 1/2 assessed value or am I misunderstanding this??
Thanks, -Don
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