Tax sale glossary
Struck to the county
What happens to a tax certificate that receives no bid at auction: it is issued to the county itself at the maximum statutory rate, becoming a county-held certificate available for over-the-counter purchase.
Related terms
- Over-the-counter (OTC)
- The purchase of certificates or parcels that went unsold at auction, directly from the county at a fixed price with no bidding. In Florida, unsold certificates become county-held certificates at 18 percent, and unsold deed parcels go on the Lands Available list.
- County-held certificate
- A Florida tax certificate that received no bid at the annual sale and was struck to the county at the full 18 percent. Any buyer can purchase it over the counter afterward at face value plus 1.5 percent per month plus a fee.
- ACH (bank transfer)
- Automated Clearing House: the electronic bank-to-bank transfer most auction sites use to collect deposits and final payments. ACH is not instant. Counties typically require your deposit to clear several business days before the sale, so funding late can lock you out of bidding.
- Bid-down-interest
- A lien-sale auction format where bidders compete by accepting a lower interest rate rather than paying more. The auction starts at the statutory maximum and the rate is bid down; the lowest rate wins. Florida uses this method, starting at 18 percent.
Tax Sale Atlas publishes educational information about public tax sale processes. This is not legal, financial, or investment advice. Rules, dates, and fees change; confirm with the county office before you bid.
See the term in a real sale
Open a state to watch these concepts play out in an actual sale calendar and rule set.