Florida has a very interesting way to keep track of the interest rate of a Florida judgment. Unlike the old system that was in place, Florida requires a judgment holder to compute the interest rate of their judgment by the quarter of the year. The interest rate is determined by Florida’s Chief Financial Officer. So, it is possible that a judgment that is one year old may have more than one interest rate for the past one year period.
After being stuck at 4.75% from October 2011 to March 2016, Florida’s interest rate has been steadily creeping upward. During the second quarter of 2017, Florida’s judgment interest rate was 5.17%. Florida’s CFO has just announced that the new applicable interest rate for the third quarter of 2017 is now 5.35%. Florida’s interest rate is now at its highest in 6 years.