197.172 Interest rate; calculation and minimum. - Florida Statutes

197.172 Interest rate; calculation and minimum.

   (1) Real property taxes shall bear interest at the rate of 18 percent per year from the date of delinquency until a certificate is sold, except that the minimum charge for delinquent taxes paid prior to the sale of a tax certificate shall be 3 percent.

   (2) The maximum rate of interest on a tax certificate shall be 18 percent per year; however, a tax certificate shall not bear interest nor shall the mandatory charge as provided by s. 197.472(2) be levied during the 60-day period of time from the date of delinquency, except the 3 percent mandatory charge under subsection (1). No tax certificate sold before March 23, 1992, shall bear interest nor shall the mandatory charge as provided by s. 197.472(2) be levied in excess of the interest or charge provided herein, except as to those tax certificates upon which the mandatory charge as provided by s. 197.472(2) shall have been collected and paid.

   (3) Personal property taxes shall bear interest at the rate of 18 percent per year from the date of delinquency until paid or barred under chapter 95.

   (4) Except as provided in s. 197.262 with regard to deferred payment tax certificates, interest to be accrued pursuant to this chapter shall be calculated monthly from the first day of each month.

History. s. 135, ch. 85-342; s. 7, ch. 92-32.