Unlocking the Secrets of Citrus County, Florida’s Tax Sales

Citrus County, Florida, offers an intriguing pathway for investors and property enthusiasts through its tax sales process. These sales, managed by the Tax Collector’s Office and the Clerk of the Circuit Court & Comptroller, aim to recover unpaid property taxes while providing lucrative opportunities for buyers. Whether you’re looking to earn interest or acquire properties, here’s everything you need to know about how Citrus County conducts its tax certificate and tax deed sales.

Tax Certificate Sales – Earning While You Help Recover Taxes

Annual Auction

Held online each year on or before June 1, Citrus County’s tax certificate sales are hosted via LienHub. This process allows investors to pay delinquent taxes on properties, effectively earning them a lien against the property. Why Invest in Tax Certificates? Think of it as an investment opportunity where you’re compensated with interest while helping the county recover unpaid taxes.

How It Works

1. Reverse Bidding: The auction starts at an 18% interest rate. Investors compete by lowering the interest rate they’re willing to accept. The lowest bidder wins the certificate.
2. Unclaimed Certificates: If no bids are placed, Citrus County retains the certificate at the maximum rate of 18%.

The Redemption Period

Property owners have two years to redeem their tax certificate by paying the owed taxes plus interest. If they fail to do so, certificate holders can initiate the next step—a tax deed application.

Tax Deed Sales – Claiming the Property

Applying for a Tax Deed

After holding a tax certificate for at least two years and if the taxes remain unpaid, certificate holders can apply for a tax deed through the Tax Collector’s Office. Applicants must pay all outstanding fees, including advertising, auction administration, and other required costs.

The Auction Process

Online platforms conduct tax deed sales. Check out our Auction Calendar for scheduled auctions. The highest bidder purchases the properties, gaining ownership and fulfilling the county’s outstanding tax obligations

Opening Bids

The starting bid covers the following:

1. Unpaid taxes
2. Interest
3. Administrative and legal fees
4. For homestead properties, an additional one-half of the property’s assessed value is included in the opening bid.

Key Considerations for Buyers

Research Thoroughly Conduct due diligence by reviewing ownership records, liens, and encumbrances. The Clerk of the Circuit Court & Comptroller’s website provides essential property information. Remember, buyers purchase properties as-is and take responsibility for resolving any issues after the sale. Be Prepared to Pay Winning bidders must pay a non-refundable deposit of 5% of the bid or $200, whichever is greater, immediately after the sale. Bidders must Make payments in cash or certified funds; They don’t accept personal and business checks. Consult Professionals The Clerk’s Office cannot offer legal advice or assist in property research. Work with legal or real estate experts for guidance.

Why Participate in Citrus County’s Tax Sales?

For investors, these sales offer the chance to earn competitive returns on tax certificates. For property buyers, tax deed sales provide an affordable way to acquire real estate in a growing community. However, preparation is key to navigating the risks and maximizing the rewards of this process.

Useful Links

• Auction Calendar
• Comprehensive Guide to Florida’s Deed Auction Process and Key Requirements
• Discover the intriguing world of Hybrid Auctions
• Discover Tax Deeds and how you can find property for as little as $50! 
• Want to get started with Tax Liens? Watch this video!
• Explore the lucrative world of Florida Tax Liens and Deeds

Need A Hand?

Explore our Auction Calendar to stay updated on upcoming events and never miss an opportunity to secure valuable properties! If you have questions or need expert guidance for participating in tax sales, book a call now to speak with a specialist who can simplify the process for you. Don’t forget to check out our free resources, packed with tips and insights to help you make smart, informed investment decisions. Take action today!

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