Representatives from the Okaloosa County Tax Collector’s Office are speaking to groups and organizations around the county, educating citizens on the annual Tax Certificate Sale. Tax Collector Ben Anderson says, “To have the ability to earn anywhere from 5% - 18% interest is exciting news. Last year, the average interest earned was 9.8%.” He continues, “I feel it is important to get the word out and these workshops are a great place for us to share valuable information with our Citizens.” The locations and times are listed below.
Tax certificates are a first lien on real estate. Investors purchase certificates by paying off the tax debt, this includes interest and other fees. The purchaser bids on an interest rate which determines the pay back of the Tax Certificate. The sale is conducted in a “reverse auction” style. A parcel is auctioned off starting at 18 percent interest per annum (the maximum rate allowed by Florida law) and bid down in quarter-percent increments. The bidder who offers the lowest interest rate on the debt wins the certificate. In the event of a tie, the software program will use an electronic random generator to determine the winner.
Potential investors can log on to www.BidOkaloosa.com to take full advantage of the demonstrations, procedural information, links to public records and the Delinquent Tax advertising list. Bidders can also pre-register and submit bids on the site before the actual event begins. Bidding will open on May 9, 2012, the sale will be conducted on June 1, 2012.
The required published advertisement of delinquent parcels appears in the Crestview News Bulletin May 9, 16 and 23, 2012 editions. Copies are available at all Okaloosa County Tax Collector Office locations. The list is also available at www.OkaloosaTax.com.
Delinquent taxpayers have until 3:00 p.m., Thursday, May 31, 2012 to make payment on their account or a certificate will be sold June 1, 2012. Payment must be made by cash, cashier’s check, money-order or by credit card.
Questions concerning the Tax Certificate Sale can be directed to the Tax Department: 850-651-7603 or
850-651-7604.
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DATE |
CITY |
TIME |
LOCATION |
|
May 14th |
Crestview | 11am – 12pm | Crestview City Hall198 N. Wilson Street |
|
May 15th |
Ft. Walton Beach | 11am – 12pm | Council Chambers at City Hall107 Miracle Strip Pkwy. SW |
|
May 17th |
Destin | 11am – 12pm | Destin City Hall4200 Indian Bayou |
|
May 22nd |
Niceville | 11am – 12pm | Niceville/Valparaiso Chamber of Commerce1055 John Sims Pkwy. E |
|
May 23rd |
Crestview | 11am – 12pm | Coastal Bank & Trust1139 Industrial Drive |
|
May 30th |
Ft. Walton Beach | 11am – 12pm | First City Bank135 Perry Ave. SE |