Page 3 - Martin Downs Bulletin - March '23

Martin Downs, Page 3

LocaL Government

Ruth Pietruszewski, Martin A tax certificate, when purchased, becomes an enforceable
County Tax Collector, Reminds first lien against the real estate. The certificate holder is Martin County Property
actually paying the taxes for a property owner in exchange
Taxpayers That Taxes Become for a competitive bid rate of return on his investment. They Appraiser’s Office
make it possible for the owner(s) of real property to allow ad
Delinquent The Same Time valorem property taxes to become delinquent and continue Attention New Home Buyers!
to use their property for two years (or more) before actually
When buying real estate
Every Year – April 1 paying the bill (plus interest and costs). During this period, property, you should not
investors pay the delinquent tax bills at negotiated rates of assume that property taxes
Real property taxes interest lending the delinquent property owners money in will remain the same.
become delinquent April 1 order to continue using their property before paying the Whenever there is a change in
of each year. Please help bill or surrendering the title to the property. The payment ownership, the assessed value
keep your cost and the of property taxes provides the county, school board, and of the property may reset to
cost of your government municipalities the revenue to provide necessary services for the full market value, which
down by paying your Martin County taxpayers. Tax certificates assist in funding may result in higher property
property taxes on time. At the government’s expenses in the interim time taxes are taxes. Our New Home Buyer
that time, 3 percent interest delinquent. The system for collecting delinquent ad valorem Timeline handout illustrates
and advertising fees are property taxes is defined in great detail in the Florida Statutes, this scenario.
added to the gross tax. A list Attorney General’s Opinions, and Department of Revenue’s
of all real estate property rules and regulations, per F.S. 197.122, F.S. 197.332, F.S.
with delinquent taxes is 197.343, F.S. 197.402, F.S. 197.403, F.S. 197.432.
advertised once a week for three consecutive weeks in a A tax certificate is valid for seven years from the date of
local newspaper during the month of May. The advertisement issuance. The holder may apply for a tax deed when two or Scan QR code to view this
specifies the place, date and time of the Tax Certificate Sale. more years have elapsed since the date of delinquency. If timeline.
This advertised information is required by Florida Law and the property owner fails to pay the tax debt, the property tax
is not intended to be embarrassing or intimidating. The notice deed is sold at public auction. In order to remove the lien,
serves as a reminder to contact this office immediately for the property owner must pay the tax collector all delinquent
payment, if your taxes have not been paid for the 2022 tax taxes plus accrued interest, penalties and advertising fees.
roll. Current law provides that taxes on these listed properties The tax collector then notifies the certificate holder of any
will be recovered through the sale of tax certificates. certificates redeemed and a refund check is then issued to the
Beginning on or before June 1, the tax collector is required certificate holder. Although it is a secure investment in most
by law to hold a tax certificate sale. The certificates represent cases, there is an element of risk in purchasing tax certificates.
liens on all unpaid real estate properties. The sale allows F.S. 197.472(2) states that tax lien certificates are guaranteed
citizens to buy certificates by paying the owed tax debt. The an interest rate return of a flat (non-accruing) 5 percent or
sale is held online. your bid, on an APR basis, whichever is greater.

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