Sale Of $1B In Tax Certificates For Delinquent Real Estate Taxes Expected In South Florida

In South Florida, The Miami Daily Business Review reports on the upcoming annual late spring ritual throughout Florida whereby county tax collectors convert unpaid real estate taxes into tax certificates sold to investors:

• [A]n estimated $1 billion worth of real estate tax lien certificates will be auctioned off in South Florida beginning June 1 and officials in Miami-Dade, Broward and Palm Beach counties do not expect a shortage of buyers. “It has become a hot item for investors,” said Polly Cacurak, manager of the revenue collection department in Broward County. [...] Investing in a tax lien certificate is almost like lending money to a homeowner with delinquent property taxes, except the investor deals directly with the county.

For more, see Unpaid Taxes (Tax certificates no longer a get-rich quick scheme).

Go here for an illustration on how Florida's tax certificate sale process works.

Go here for an illustration on how Florida's tax deed sale process works.