Hernando County suing Fannie Mae, Freddie Mac
TAMPA — Hernando County Clerk of Circuit Court Karen Nicolai says Florida has missed out on hundreds of thousands of dollars in property transfer taxes that mortgage giants Fannie Mae and Freddie Mac have not paid.
Nicolai has filed suit against both Fannie and Freddie to force them to reimburse the tax money to Hernando County. Nicolai wants the lawsuit, filed in federal court in Tampa late last week, to become a class-action suit involving other Florida counties.
“At this point we do believe this involves more than Hernando County or even more than a handful of counties,” said George Angeliadis, the attorney for the Hernando County Clerk’s Office. “We believe it involves multiple counties in the state and potentially all the counties in the state of Florida.”
Each time a property is sold in Florida, the seller must pay a tax to transfer the property. The transfer tax is based on the value of the home, but generally ends up being around a couple hundred dollars. The tax in most counties, including Hernando, is $7.50 for every $1,000 of value in the property.
Full complaint below…