Polk County Florida Tax Sale
Polk County Florida tax lien certificates are sold at the Polk County tax sale auction annually on or before June 1st of each year.
The sale of Polk County tax lien certificates at the Polk County tax sale auction generates the revenue Polk County Florida needs to continue to fund essential services.
In Polk County Florida real estate property taxes are due on November 1 and are delinquent after March 31st of the year following the year of assessment (i.e 2012 taxes become delinquent after March 31, 2013).
Property taxes that are delinquent after March 31st of each year are added to any existing delinquent taxes on a property for the Polk County tax lien certificate tax sale auction.
Beginning May 1 of each year Polk County will commence advertising tax delinquent property's to be offered at the Polk County Florida tax lien certificate tax sale auction. The list of tax delinquent properties are advertised once a week for three consecutive weeks prior to the Polk County Florida tax lien certificate tax sale auction.
Tax Sale List
Contact the Polk County Florida Treasurer F.R.S. 197.332 for instructions on obtaining the Polk County Florida tax sale list.
The Polk County tax sale list includes the item number, parcel number, legal owner, and legal description of the property's to be offered at the Polk County Florida tax lien certificate sale. Combined with the Polk County Florida Assessor's property records this information can be used to research each Polk County tax lien certificate to be offered at the Polk County Florida tax sale.
Copy's of the newspaper where the advertisement of tax liens on property's subject to sale at the Polk County Florida tax sale are available for purchase through the Polk County Florida Treasurer's Office. In addition, a digital copy of the advertisement may also be available for purchase.
Tax Sale Registration
Anyone wishing to bid must register preceeding the Polk County Florida tax sale. Contact the Polk County Florida Treasurer F.R.S. 197.332 for registration instructions and requirements. Generally, there is no charge for registration.
While there is no charge to register bidders may be required to make a deposit via the Tax Sale Website Payments Page. The Polk County Florida Treasurer's Office may require that bidder's post 10% of the estimated amount they intend to purchase at the Polk County Florida tax sale.
Registration requirements specify that bidders must supply the Polk County Florida Treasurer's Office with a completed Bidder's Card, Request for Taxpayer Identification Number and Certification (IRS Form W-9 or W-8BEN).
Upon successfully meeting the registration requirements the Polk County Florida Treasurer's Office will assign a bidders number to identify each bidder when purchasing tax liens from Polk County Florida.
Tax Sale Time and Location
The Polk County Florida tax sale is held on or before June 1 of each year. Contact the Polk County Florida Treasurer's Office F.R.S. 197.332 to determine the time and location of the Polk County Florida tax sale.
In accordance with F.R.S. 197.432 the Polk County Florida Treasurer will commence the public auction of the Polk County Florida tax liens on those land's for which the taxes, interest, and fees have not been paid and continue's from day to day until each tax lien certificate is sold to satisfy the taxes, interest, costs, and charges.
Florida law F.R.S. 197.417 specifies that at least 7 days before the Polk County Florida tax sale auction is to be held the Polk County Florida Tax Collector shall give public notice of both the time and location of the Polk County Florida tax sale auction.
Tax Sale Bidding Process
In accordance with F.R.S. 197.432 Florida laws grants the Polk County Florida Treasurer broad powers in setting and determining bidding rules governing the Polk County Florida public tax sale auction.
Currently, there are several bidding methods being used to sell Polk County Florida tax lien certificates.
The Polk County Florida Treasurer may utilize one or more of the following bidding methods to sell Florida tax lien certificates:
Bid Down Interest Method: In a public oral bid tax sale where Polk County Florida is utilizing the Bid Down Interest Method the bidding begins at the maximum rate of return specified in F.R.S. 197.172 being 18% per annum and is sold to the bidder willing to accept the lowest interest rate. Bidder's lower his or her bid by increments of one percent until the tax lien certificate is sold to the bidder willing to accept the lowest interest rate.
According to Florida statute, investors will receive a minimum return of 5% over the life of the tax lien certificate. (2) 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 F.R.S. 197.472 (2) ).
Proxy Bid Method: In a public oral bid tax sale where Park County is utilizing an Proxy Bid Method, the auction system submit's the bids on behalf of the bidders. Prior to the tax sale bidders must login to the Tax Sale Website and enter the minimum interest rate that they are willing to accept for each tax lien certificate they intend to purchase. At the time of the tax sale the auction system will submit bids on behalf of each bidder.
The result of the auction system is that the electronic agent keeps lowering the bid to submit by one percent increments until either they are the only bidder left, (in which case they get the tax lien certificate at one percent lower than the previous bid) or until they reach the minimum rate they have set. Zero percent bids are not treated as bids, they will be awarded at zero.
In cases where there is only one bidder on a given tax lien certificate and the bidder's minimum rate is greater than zero percent, the auction system will submit a bid of 18%.
In the case of a tie at the winning bid rate, the system awards to one of the bidders through a random selection process using a random number generator.
In accordance with F.R.S. 197.432(5) and F.R.S. 197.432(6) unsold Polk County Florida tax lien certificates that receive no bid are "struck off" or sold to Polk County Florida at the maximum rate of interest allowed by Florida law being 18% per annum.
Tax Sale Payment
Pursuant to F.R.S. 197.432 the Polk County Florida Treasurer may accept payment in the form of cash, negotiable paper, or electronic funds transfer, for the Florida tax lien certificate.
In accordance with F.R.S. 197.432 (7) the Polk County Florida Treasurer must provide written or electronic notice when the tax lien certificate(s) are ready for issuance. Payment must be made within 48 hours after the transmission of the electronic notice by the Polk County Florida Treasurer or mailing of the notice or, at the Polk County Florida Treasurer's discretion, all or a portion of the deposit placed by the bidder may be forfeited
Upon payment of the back taxes, penalties and charges, the winning bidder will be issued a tax lien certificate or certificate of purchase ("CP") by the Polk County Florida Treasurer's Office evidencing the sale of the tax lien certificate. If payment has not been made, the parcel(s) / tax lien certificates may be re-offered.
Endorsement, "subtax" or "subsequent tax" provides the current tax lien certificate holder with the option of endorsing the current year's delinquent tax onto the original tax lien certificate.
In Polk County Florida subsequent taxes cannot be added or endorsed to an existing tax lien certificate. Instead, subsequent delinquent property taxes will be offered at the following years tax sale.
Pursuant to F.R.S. 197.472 and F.R.S. 197.482 the delinquent property owner can redeem a tax lien certificate at any time until the property is sold at the Polk County Florida tax deed sale or until the Polk County Florida tax lien certificate expires which is seven (7) years after the date of issuance.
To redeem the Florida tax lien certificate the delinquent property owner must pay the Polk County Florida Tax Collector the face amount of the Florida tax lien certificate plus all interest, costs, and charges.
The delinquent property owner may redeem the Florida tax lien certificate at any time before the execution of the Polk County Florida Treasurer's tax deed by paying the amount of delinquent taxes, delinquent interest, and costs for which the tax lien certificate on the property was sold, with redemption interest from the date of the sale at the rate specified in F.R.S. 197.172.
Pursuant to F.R.S. 197.472 (2), investors will receive a minimum return of 5% over the life of the Florida tax lien certificate.
(2) 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 (F.R.S. 197.472 (2) ).
In accordance with F.R.S. 197.472 (5) after a Florida tax lien certificate is redeemed, the Polk County Florida Tax Collector must pay the owner of the Florida tax lien certificate the amount received by the Polk County Florida Tax Collector less the redemption fee within fifteen (15) business days after the date of receipt of the redemption.
Pursuant to F.R.S. 197.502 and F.R.S. 197.482 if the Florida tax lien certificate has not been redeemed and the tax lien certificate has not expired, the purchaser of the tax lien certificate may, at any time after two (2) years have elapsed since April 1 of the year of issuance but no later than seven (7) years, request and begin a tax deed application process with the Office of the Polk County Florida Tax Collector.
In accordance with F.R.S. 197.502 (1) the Polk County Florida Tax Collector may charge a $75 tax deed application fee.
At the time of application for the tax deed, the tax lien certificate holder must pay the Tax Collector all amounts required for redemption or purchase of all other outstanding tax lien certificates, plus interest, omitted taxes, plus interest, any delinquent taxes, plus interest, and current taxes, if due, cover the property.
The Polk County Florida Tax Collector shall then deliver to the clerk of the circuit court a statement that payment has been made for all outstanding tax lien certificates and that notification must be made to all persons identified in F.R.S. 197.502 (4) preceding the sale of the property.
If the Florida tax lien certificate remains unredeemed it is scheduled for a public auction tax deed sale in the Polk County Florida Courthouse by the Clerk of Circuit Court.
In accordance with F.R.S. 197.542 property advertised for sale to the highest bidder as a result of a tax deed application pursuant to F.R.S. 197.502 are to be sold at public auction by the Clerk of the Polk County Florida Circuit Court on the date at the time and location specified in the published notice.
The property is sold for cash to the bidder with the highest bid at the Polk County Florida tax deed sale. If the property is classified as non-homested, the opening bid is the amount of the delinquent property taxes, accrued interest, plus costs and fees involved in the tax deed process.
If the property is classified as homestead, the opening bid is half the current assessed property value plus all delinquent property taxes, interest, fees, and costs.
Pursuant to F.R.S. 197.562 the owner shall be entitled to immediate possession of lands described in the deed. If the person occupying the property refuses to grant possession the owner of the tax deed may apply to the Polk County Florida Circuit Court for a writ of assistance up 5 days' notice directed to the person refusing to deliver possession. The court will then direct the sheriff to put the owner of the tax deed in possession of the lands.
Unsold Tax Lien Certificates
Pursuant to F.R.S. 197.432(5) unsold Polk County Florida tax lien certificates that receive no bids are sold to Polk County Florida at 18%.
In accordance with F.R.S. 197.4725 any person may purchase Polk County Florida tax lien certificates at any time after the Florida tax lien certificate is issued but before a tax deed application is made.
The purchaser of the Polk County held Florida tax lien certificate must pay the Polk County Florida Tax Collector the face amount plus all interest, costs, and charges or, subject to F.R.S. 197.472(4), the part described in the tax lien certificate.
In accordance with F.R.S. 197.4725(2) interest on the Polk County held Florida tax lien certificate shall be calculated at 1.5 percent per month, or a fraction thereof.
The date that the new Florida tax lien certificate is purchased is the date for use in calculating the interest or minimum interest due if the certificate is redeemed.
The date the Polk County held Florida tax lien certificate was issued to Polk County Florida is the date for use in determining the date on which an application for tax deed may be made.
Unsold Tax Deed Properties
In accordance with F.R.S. 197.502(7) Polk County held Florida tax lien certificates for which there were no bidders at the public tax deed sale, the Polk County Florida clerk shall enter the land on a list entitled "lands available for taxes". Any person, the county, or any other governmental unit may purchase the property from the Polk County Florida clerk, without further notice or advertising, for the opening bid.
Tax Sale Warnings and Pitfalls
While it is possible to receive a handsome profit with Polk County Florida tax lien certificates and Polk County Florida tax deed properties it is important to keep in mind it is also possible to incur a substantial loss. Buyer beware, Polk County Florida auctions all types of properties at the Polk County Florida tax sale auction including residential, retail, agricultural, condemned, waste, vacant, industrial and the like.
As with all investments, there is always an element of risk. Even though the interest rates are written into Florida law, mandated by Florida law, and are regulated by Florida law, there is a chance of losing part or all of your investment. You must always try to get the best education and practice safe investing, no matter which investment vehicle you choose.
Polk County Florida Tax Sale Discussion
Below you will find a collection of the latest user questions and comments relating to the sale of tax lien certificates and tax deed properties in Polk County Florida.
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Cities located in Polk County Florida
The following is a list of cities and towns located in Polk County Florida.
Tax Lien Certificates for properties located in the following cities are sold at the Polk County Florida tax sale.
|Babson Park, FL||2,473|
|Cypress Gardens, FL||19,875|
|Cypress Gdns, FL||19,875|
|Eagle Lake, FL||1,453|
|Florence Villa, FL||28,149|
|Fort Meade, FL||7,922|
|Haines City, FL||26,645|
|Lake Alfred, FL||4,087|
|Lake Hamilton, FL||839|
|Lake Wales, FL||34,822|
|Polk City, FL||11,098|
|Winter Haven, FL||82,101|
Counties located in 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:
Tax Lien University, Inc. is an educational organization, and individual performance depends upon the individual skills, time availability, and dedication of each student. Testimonials included may not represent typical results. Unique experiences and past performances do not guarantee future results. Tax Lien University, Inc. its owners, employees, and affiliates do not give investment or financial advice and are not licensed as brokers by or registered as advisors with any agency. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Polk County, FL
430 East Main Street
Bartow FL 33830
|County Website:||View County Website|
|Auction Website:||View Auction Website|
|Tax Sale Date:||May - June|
|Tax Sale List:||Get Tax Sale List|
|OTC Sale List:||Get OTC Tax Sale List|
|Parcel Search:||View Property Records|
|Public Records:||View County Records|
|Tax Sale Type:||Tax Lien Certificates|
|Redemption:||Two (2) Years|
|Interest Rate:||18% Per Annum|
|Bid Procedure:||Bid Down|
|Sale Contact:||County Tax Collector|
|State Statutes:||View State Statutes|
|County Map:||View County Map|
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