Start from zero: what a county is actually selling, what the property owner owes to get it back, and why the answer changes at the state line.
Property taxes fund the county. When an owner does not pay, the county is short the money but still has to run.
Not the property — the claim against it for those unpaid taxes. The buyer advances the county its money owed.
For a period set by state law, the owner can pay the taxes back plus a statutory charge on top. Most do.
The holder receives the redemption value, less applicable fees, and the position closes. How the statutory charge is worked out is where the states differ.
What you are buying
Not the property — the county’s claim against it for unpaid taxes. The owner clears that claim by paying the taxes back with statutory interest, and when they do you receive the expected redemption value, less applicable fees, and the token is retired.
If the term ends with no redemption, the original seller may have the option to repurchase the lien at its then-current redemptive value; if that option is not exercised, you may have the right to receive the underlying certificate in kind, subject to applicable law and platform terms. The certificate becomes eligible for foreclosure under state law on its own schedule — that describes the certificate, not an action open to a token holder.
Every state writes its own answer to "what does the owner owe, and for how long". This page covers Florida and Texas. Pick one on the map — everything below it is that state's statute, and nothing on this page blends two.
LienFi operates here — pick oneNot yet
Selected state
Interest per month begun, with a guaranteed minimum charge.
ViewingFlorida
A tax certificate: the county’s claim for the unpaid taxes on a parcel, sold at a tax sale and carrying a statutory interest rate on its face value.
The clock starts when the certificate is issued.
Interest is charged for each calendar month the term has *begun*, not day by day — so the amount owed steps up on a monthly boundary rather than sliding. Underneath that sits a guaranteed minimum: Florida charges no less than 5% of face value however early the owner pays. Early in the term the monthly interest has not caught up with that floor yet, which is why the first stretch of a Florida payoff is flat.
One made-up lien, priced by the same calculator that values every lien on the marketplace. Illustrative only — not an offer, and not a lien that exists.
| Face value | $25,000 |
|---|---|
| Statutory interest to maturity | $6,250 |
| What the owner pays to redeem | $31,250 |
The certificate reaches the end of its redemption term. Redemption after that point is a normal, supported outcome rather than a failure — it simply settles as an expired redemption instead of an early one.
What newcomers get wrong about Florida
| Rule | Florida | Texas |
|---|---|---|
| What the county sells | Florida Tax Certificate | Texas Redeemable Deed |
| Clock starts from | Certificate issue date | Deed recorded date |
| How long the owner has | 24 months | 2 years — homestead or agricultural; 180 days — every other property |
| What the owner is charged | Interest, per calendar month begun | No interest — a flat premium on the bid (25%, then 50%) |
| Guaranteed minimum | 5% of face value, however early | None |
| Separate penalty | None | None |
| Property class changes the money | No | Yes |
| Window closing converts to property | No | Yes |
| Statute cited in our code | — | Tex. Tax Code § 34.21 |
Educational only
Nothing here is legal, tax or investment advice, and none of it is an offer. The figures are calculated estimates; the final redemption amount is governed exclusively by state statute, and LienFi makes no warranty that an estimate will match it.
The rules described are the ones this platform applies when it prices a lien. They are a summary, not the statute, and statutes change.
LienFi’s share of your gain at redemption: a percentage of the amount above what you paid, never of your principal. If the lien redeems at or below what you paid, there is no fee.
| When | Paid by | Charge |
|---|---|---|
| You buy a lien | — | Nothing on top of the listing price. That price is the entire amount transferred; network gas is the only other cost. |
| It redeems for more than you paid | You | 10% of the gain — the amount above what you paid, never your principal. |
| It redeems at or below what you paid | — | Nothing. The fee is charged on gain, so there is none to charge. |
| You list a lien for sale | — | Nothing. Listing moves no money. |
| You resell a lien you bought | You, from the proceeds | 2% of the sale price, plus 10% of your gain over what you paid for it. If you sell at or below what you paid, only the 2% applies. |
| LienFi sells a lien for the first time | The seller, from the proceeds | 2% of the sale price, plus 10% of any amount the price sits above the redemptive value. Instead of the row above, not on top of it — a lien nobody has bought yet has no purchase price to measure a gain against. |
These are the rates configured onchain today. They are versioned settings rather than terms of your position — the redemption rate in particular is read from the chain at the moment a lien redeems, so it is the rate in force then that applies. Every lien page shows the rate attached to that lien, and shows its figures before fees when the rate cannot be read.
The date the underlying certificate becomes eligible for foreclosure under state law. It describes the certificate, not an action open to you — tokens are acquired and held until redemption or term end.