What are the penalties for late payment of property taxes?

In Florida, there are penalties for late payment of property taxes. When a property owner is late in paying their taxes, the county will impose a penalty of 3% of the amount owed. This penalty is added to the total amount due for the tax period. If the taxes remain unpaid, after the end of the tax period, the county will impose a 12% penalty. In addition to the penalty, interest will be added to the amount due. The county will generally add interest at a rate of 1.5% per month. This interest accrues on the principal amount, plus all penalties that are added. If a property owner fails to pay their taxes for a period of five years, the county may declare the taxes “delinquent”. The property owner may no longer receive any homestead protection or other benefits associated with the property. In addition, the county may initiate foreclosure proceedings against the delinquent property and force the sale of the property to pay the taxes. The county will also place a lien on the property for the amount owed. This lien will remain until the delinquent taxes are paid in full. Therefore, it is important for property owners to pay their property taxes on time. If payment of taxes is delayed until the due date, the owner will incur a penalty and additional interest. If the taxes go unpaid for an extended period, the property may be foreclosed.

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