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Pinellas Tax Lien/Deed Auction Information and Property Listings

County Location

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Due Diligence
Property Listings
Local Legal Advice
Online Auction Information
County Contact Information
Listing Newspaper Information
Local Realtor Contact Information
Tax Lien/Deed Auction Information
Local Investment Agent Contact Information

Property Listings

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Current Property Auction List	pinellas-FL-taxdeedsale-09-08-2010

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County Contact Information

County Information
State	Florida
County Name	Pinellas
Responsible Entity	Clerk of Court
Address	Clearwater Courthouse :: 315 Court Street :: Clearwater, Florida 33756
Entity Contact	Ken Burke
Phone #	727-464-3341
Fax #
Email	kburke@pinellascounty.org
Website	http://www.pinellasclerk.org/aspInclude2/ASPInclude.asp?pageName=duties.htm

Completing Due Diligence

Links are provided to aid in your due diligence activities. www.Tax-Lien-Database.com does not guarantee the accuracy of the various sources and is not responsible for inaccurate information.

Due Diligence Resources
Lien/Deed Type	Tax Lien & Tax Deed
Bidding Procedures	Bid Up or Premium
Liens/Deeds OTC*	Yes
Return (State Maximum)	N/A
Penalty	None
Redemption Period	2 Years
After Redemption Period	The tax lien holder must apply for a tax deed. The tax deed is then sold at public auction (tax lien holder may bid) to cover the costs of the tax lien plus interest and fees. Once a tax deed is issued, the deed holder has full right of possession.
County Website	http://www.pinellascounty.org/
Auction Information	http://www.pinellasclerk.org/tributeweb2/
Property Assessor	http://www.pcpao.org/
Property Title Search	https://pubtitles.co.pinellas.fl.us/login/loginx.jsp?goto=/mainmenux.jsp
Property Mapping/GIS Information	http://www.pinellascounty.org/Plan/default.htm
Property Area Information	http://www.zillow.com/
Due Diligence Example Video**	Subscribe Now
State Resource
State Resource	http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=Ch0197/titl0197.htm&StatuteYear=2000&Title=-%3E2000-%3EChapter%20197

*Excess liens/deeds offered Over The Counter (OTC)
**Subscribers have access to training videos

County Process / Terms & Conditions

Real Estate taxes become delinquent on April 1st each year. A 3% penalty will be assessed upon the taxes at this time. During the month of May, the Tax Collector is required by Florida Statute to advertise the delinquent parcels in a local newspaper once a week for 3 weeks. The cost of this advertising is added to the tax notice. Beginning on or before June 1st the Tax Collector is required by law to hold a Tax Certificate Sale. These certificates represent liens on all unpaid real estate properties and are sold so that the various taxing authorities will receive those funds which are encumbered by their fiscal budgets for that year. The Tax Certificate sale is open to all citizens and the certificates are sold in a reverse auction style with participants bidding downward on interest rates starting at 18%. The certificate is issued to the lowest bidder. A Tax Certificate, when purchased, becomes an enforceable first lien against the real estate. The certificate holder is actually paying the taxes for a property owner in exchange for a competitive bid rate of interest on his investment. In order to remove the lien and cancel the certificate, the property owner must pay all the delinquent taxes plus accrued interest, penalties and costs associated with the certificate. The Tax Collector then notifies the Certificate holder and issues a check for his investment, thereby canceling the lien and certificate. A Tax Sale Certificate is valid for a period of seven(7) years from the date of issuance. The holder of the certificates may apply for a Tax Deed when two(2) or more years have elapsed from the date of delinquency of the tax year for which the certificate was issued. If the property owner fails to pay the tax debt, a Tax Deed will be sold at public auction and title to the property will transfer at that time. REGARDING LIENS OTC &amp;gt; &amp;gt; &amp;gt; &amp;gt; The cost to purchase the certificate is listed under &amp;quot;Cert Balance Amt&amp;quot;. Payment must be in certified funds (cashier's check or money order), payable to Diane Nelson, Tax Collector and must be in the office prior to the last business day of the month that you wish to purchase the certificate(s) in. You need to supply us with a List of Certificates that you wish to purchase. The list must contain the parcel number and the certificate number for each certificate. An IRS W-9 form is attached and must be completed and returned with the payment. After the purchase paper work is complete, we will send you a letter and a list of the certificates you purchased. This is your official record of certificate ownership and should be used to record redemptions and monitor any actions concerning your certificates. SOME CERTIFICATES ON THE REPORT MAY NOT BE AVAILABLE BECAUSE PROPERTIES THAT HAVE HOMESTEAD EXEMPTION AND THE AMOUNT DUE IS UNDER $100.00 CAN NOT BE SOLD, THEY MAY HAVE ALREADY BEEN PURCHASED OR THE OWNER FILED BANKRUPTCY. IF ANY OF THESE OCCUR, YOUR CHECK WILL EITHER BE RETURNED OR A REFUND CHECK WILL BE ISSUED.

State Laws and Procedures

Florida Statutes, Title XIV, Chapter 197, &quot;Tax Collections, Sales, and Liens.&quot;  Tax Lien Certificate (Sec. 197.432) and Tax Deed (Sec. 197.502).  Bid down interest. Each certificate shall be struck off to the person who will pay the taxes, interest, costs, and charges and will demand the lowest rate of interest, not in excess of the maximum rate of interest allowed by this chapter. The tax collector shall accept bids in even increments and in fractional interest rate bids of one-quarter of 1 percent only. If there is no buyer, the certificate shall be issued to the county at the maximum rate of interest allowed by this chapter. (Sec. 197.432).  When a tax certificate is redeemed and the interest earned on the tax certificate is less than 5 percent of the face amount of the certificate, a mandatory charge of 5 percent shall be levied upon the tax certificate. The person redeeming the tax certificate shall pay the interest rate due on the certificate or the 5-percent mandatory charge, whichever is greater. This subsection applies to all county-held tax certificates and all individual tax certificates except those with an interest rate bid of zero percent. (Sec. 197.432 (2) ).

State Summary

Florida is both a tax lien and a tax deed state. Delinquent properties are sold at the tax lien sale and, if they do not redeem within the redemption period, they are sold at auction in a deed sale to satisfy the lien holder. Tax lien sales are referred to as tax certificate sales and are the responsibility of the county tax collector. 

Florida is the most popular state for tax sales. The maximum interest rate is 18% and the redemption period is 2 years. The interest is bid down in &#188;% intervals. Bidding has become so competitive in Florida that frequently liens are sold at an interest rate of &#188;%. However, there is a minimum penalty of 5%. If you bid less than 5% and the lien redeems, then the 5% penalty is paid instead of the amount you bid, so you are guaranteed a minimum return of 5%.

There is another thing that you should know about Florida; in order to bid at the tax lien sale, most counties require you to register before hand with a large refundable deposit. Many Florida counties are now conducting their tax sales online. The first year that Dade County had an online tax sale, according to the tax collector’s website, the sale was a big success for the county. They had more bidders than ever before and sold all of their tax certificates – all 32,000 of them. Most of them were bid down to an interest rate of only .25%. This was great for the county, but not so good for investors. It’s a good bet that some of the liens sold were for worthless properties.

Most Florida tax lien sales are held in May. Many are held on the same day. The larger Florida counties do have their tax sales as well as tax assessment information online. Most of the Florida counties have their tax sales on www.RealAuction.com, but a few use Grant Street Group for their online auction platform. You can find these county auction by going to http://www.grantstreet.com/clients and looking under tax collectors.

Summary courtesy of Joanne Musa's State Guide

Listing Newspaper Information

Newspaper Information
Local Newspaper	Saint Petersburg Times
Address	490 First Avenue South :: St. Petersburg, Florida 33701
Phone #	(727) 893-8111
Fax #
Email	custserv@sptimes.com
Website	http://www.tampabay.com/