A St. Petersburg property owner fails to pay their property taxes by April 1st. What happens to their property?
Correct Answer
B) A tax certificate is sold to investors
The correct answer is B. When property taxes become delinquent on April 1st in Florida, tax certificates are sold to investors who pay the delinquent taxes and earn interest. A is incorrect because foreclosure doesn't happen immediately. C is incorrect because tax deed sales only occur after the redemption period expires (typically 2 years). D is incorrect because there is no additional 30-day grace period after April 1st.
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Previous Question
A Pensacola homeowner is selling their property on September 15th. The annual property taxes of $4,380 have not been paid. Using the 365-day method, how much will the seller owe the buyer at closing for property taxes?
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All of the following are components that make up the total millage rate in Florida EXCEPT: