Bidders to compete for interest on tax-delinquent properties
A compelling yearly opportunity to invest in Lee County real estate arrives soon. The 2018 Tax Certificate Sale of properties with unpaid real property taxes is Tuesday, May 22 from 8 a.m.-4 p.m. online at leefl.realtaxlien.com.
Tax certificates bear interest of as much as 18 percent per year. They represent liens for delinquent taxes, interest, and charges associated with each property involved in the auction. Tax certificate holders pay the delinquent taxes to the county in exchange for the chance to reap the interest.
“This is a win-win for tax certificate buyers and for the county,” Lee County Tax Collector Larry Hart said. “It’s an opportunity for people who invest to reap valuable returns, and it pays off delinquent taxes that would otherwise drain resources from the citizens of Lee County.”
The sale is conducted auction style, with each certificate going to the bidder willing to accept the lowest interest rate. The bidding starts at 18 percent per year and progresses downward in 0.25 percent increments. Buying a certificate isn’t the same as buying the property, but beginning April 1, 2020, anyone holding a certificate issued in this year’s sale can apply for a tax deed to sell the land. That right expires along with the certificate on April 1, 2025.
Any certificate that isn’t bid on will be issued to the county and available for purchase from the Tax Collector. The cost to purchase a county-held certificate is face value plus interest and a $6.25 processing fee. Visit leetc.com for more information and to view county-held certificates once they become available after the May 22 auction.
For more information on bidding rules, auction guidelines and to learn how to become a registered bidder, visit leefl.realtaxlien.com. Registration closes Friday, May 18 at 5 p.m.
About Lee County Tax Collector
The Lee County Tax Collector (LCTC) exists to serve the citizens of Lee County. The office takes pride in organizational excellence and offering exemplary customer service and operates by the credo of “We’ve got your back.” The LCTC operates leetc.com, the official interactive website of the tax collector, which allows county residents to quickly and easily take care of motor vehicle and vessel registration, pay property taxes, make appointments for concealed weapon permits and more.
The agency operates six service centers open daily throughout the county to provide efficient, convenient services. The LCTC works to provide innovative and quality service that supports the growth and sustainability of the community. For more information, visit leetc.com or follow Lee County Tax Collector on social media.