Judgment Interest Rate Update – Effective January 1, 2025
As per Chapter 2011-169, Laws of Florida, and section 55.03(1), Florida Statutes (F.S.), the Chief Financial Officer (CFO) sets the judgment interest rate quarterly. This rate applies to judgments and decrees as well as certain late payments under Florida law.
New Interest Rates:
- Judgments and Decrees:
- Annual rate: 9.38% per annum
- Daily rate: 0.0256284% per day (expressed as 0.000256284 as a decimal)
- Health Care Providers (Late Payments):
- Monthly rate: 1% per month
- Daily rate: 0.03333% per day (expressed as 0.0003333 as a decimal)
Applicable Scenarios:
- Late payments to vendors for goods and services purchased by the State (s. 215.422(3)(b), F.S.).
- Late payments for construction or maintenance contracts under the Department of Transportation (s. 337.141(3), F.S.).
- Cases where no rate of interest is specified in a contract (s. 687.01, F.S.).
Resources:
- Historical and current interest rates are available at the Florida Department of Financial Services website:
Judgment Interest Rates