Blog & Media Releases

[Media Release] Bidders To Compete For Interest on Tax-delinquent Properties

by Angie Filian | May 21, 2018


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.

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 after two years, anyone holding a certificate can apply for a tax deed to sell the land.

 

Any certificate that isn’t bid on will be available for purchase after the auction on leetc.com, with interest accruing at 1.5 percent per month.

 

For more information on bidding rules, auction guidelines and to learn how to become a registered bidder, visit leefl.realtaxlien.com.