Florida Senate - 2013                                    SB 1062
       
       
       
       By Senator Latvala
       
       
       
       
       20-00582-13                                           20131062__
    1                        A bill to be entitled                      
    2         An act relating to delinquent real property taxes;
    3         amending s. 197.172, F.S.; revising the interest rate
    4         applicable to delinquent real property taxes;
    5         providing an effective date.
    6  
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Section 197.172, Florida Statutes, is amended to
   10  read:
   11         197.172 Interest rate; calculation and minimum.—
   12         (1) Real property taxes shall bear interest at the rate of
   13  12 18 percent per year from the date of delinquency until a
   14  certificate is sold, except that the minimum charge for
   15  delinquent taxes paid before prior to the sale of a tax
   16  certificate shall be 3 percent.
   17         (2) The maximum rate of interest on a tax certificate is 12
   18  18 percent per year. However, a tax certificate may not bear
   19  interest, and the mandatory interest as provided by s.
   20  197.472(2) may not be levied during the 60-day period following
   21  the date of delinquency, except for the 3 percent mandatory
   22  interest charged under subsection (1).
   23         (3) Personal property taxes shall bear interest at the rate
   24  of 18 percent per year from the date of delinquency until paid
   25  or barred under chapter 95.
   26         (4) Interest shall be calculated from the first day of each
   27  month.
   28         Section 2. This act shall take effect July 1, 2013.