Depending on the laws and regulations of your state, a sales tax certificate may also be referred to as a reseller’s certificate, a tax-exempt certificate, or a reseller’s license. Not the sales taxes that are collected from customers is covered by a sales tax certificate, but the exemption from sales tax paid is.
Unpaid real estate taxes can result in a tax certificate being filed as a first lien on the property, which can be enforced. Investors will be able to acquire certificates by paying the tax liability as a result of the sale. The auction is run in a manner similar to a reverse auction, with participants placing bids with the goal of lowering the initial interest rate of 18 percent.
What is a tax lien sale certificate?
A tax lien sale certificate is a document that proves the holder acquired real estate at an auction designated for the purpose of selling tax liens on properties. The purchaser of a tax lien sale certificate at a public auction immediately becomes a lien holder on the property for which the certificate was acquired.
What is a tax certificate sale in Florida?
- In order to avoid being considered overdue, annual payments of real estate taxes are expected to be made by a particular date.
- When taxes reach the point of becoming overdue, the Tax Collector will organize an auction to collect the money needed to pay them.
- In accordance with section 197.482 of the Florida Statutes, this event is being referred to as a Tax Certificate Sale.
- Certificate of tax exemption has expired.