Florida vs Iowa Tax Lien Investing (2026)
For a retail investor, Florida edges it overall (6.6/10 vs 6.4/10). The biggest single difference is auction access: Florida scores 9, Iowa scores 6. Neither is "best" for everyone — match the state to your goal below.
- System:
- lien
- Max rate:
- 18% max 5% min
- Redemption:
- 2yr
- System:
- lien
- Max rate:
- 2%/month 24%/yr
- Redemption:
- 1yr 9mo
Head-to-head: 9 dimensions
18% ceiling bid down to ~0.25% online; 5% min penalty floor rescues most redemptions
2%/mo (24%/yr) never bid down; bidding is on % ownership instead
5% minimum penalty on redemption regardless of bid, but 0% winning bids earn nothing
Fraction of a month counts as a full month; otherwise straight interest
2yr hold before certificate holder can apply for tax deed
1yr9mo before 90-day expiration notice can be served (~2yr total)
Nearly all 67 counties auction certs online (LienHub/RealAuction) each June
Annual June sale in all 99 counties; many now run online
Heavily institutional; funds bid rates to 0.25% in metro counties
Funds flood registrations; random allocation with 1%-ownership bids
Certificates start at a few hundred dollars; small liens plentiful
Certificates from a few hundred dollars; subsequent taxes also earn 24%
After 2yr must apply for tax deed; property goes to deed auction, not to holder
90-day notice then deed; undivided-interest wins complicate title
Ch.197 certificate framework stable for decades, minor tweaks only
Ch.446-448 sale/redemption mechanics stable for decades
County-held certs struck at 18% purchasable OTC through tax collectors
Adjourned/public-bidder certificates assignable from county treasurers
Choose Florida if…
- you want stronger auction access — Nearly all 67 counties auction certs online (LienHub/RealAuction) each June
Choose Iowa if…
- you want stronger effective yield — 2%/mo (24%/yr) never bid down; bidding is on % ownership instead