SB 0672 Restricts Sale of Tax-Foreclosed Property
LR Number:S2430.01I Fiscal Note:2430-01
Committee:Ways and Means
Last Action:02/06/96 - Hearing Cancelled S Ways & Means Committee
Effective Date:August 28, 1996
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Current Bill Summary

SB 672 - This act prohibits the redemption of residential property by the owner after a foreclosure judgement for non- payment of taxes has been entered if the property has been abandoned for at least six months. When such property is sold, it shall be sold for the best bid above the amount of taxes owed upon the property. The owner may bid on the property but no other person who has a delinquent tax bill within the county may bid on the property.