What happens if my PACE assessment is not paid?

Under Florida Law, a PACE assessment (treated like a lien) is recorded on the property to secure the financing and will have a higher priority than most other liens on or rights in your Property, including any mortgage. It is the responsibility of each taxpayer to know when taxes are due, and to pay them before they become delinquent. Failure to receive a tax bill does not relieve a taxpayer of the responsibility for payment, nor is it cause for cancellation of penalties and/or charges if the bill becomes delinquent. Taxes on real property (ad valorem and non-ad valorem) are collected on an annual basis. The Monroe County Property Appraiser (not Monroe County Board of County Commissioners) establishes the value of property and exemptions.

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1. What are the pros and cons of PACE?
2. How is PACE different from other financing options?
3. What is the interest rate for PACE financing?
4. What improvements qualify for PACE financing?
5. Is there a time limit or a funding limit on the amount of financing available?
6. Does a condominium qualify for PACE?
7. Do I have to pay the remaining PACE assessment in full if I sell my property?
8. What happens if my PACE assessment is not paid?
9. Can I pay my PACE assessment early?