SB 1012 - Caskey, Harold
Modifies the interest provisions for redemption of property
Bill Details
Sponsor
LR Number
3680L.02T
Title
HCS SB 1012
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2004
Current Status
Signed by Governor
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
HCS/SB 1012 - Current law requires a person redeeming their property that has been sold at a tax foreclosure sale to pay interest of up to 10% on the entire purchase price of the property, even if the purchaser bid more than the delinquent taxes. This act limits the interest to only the amount of the bid price that represents the delinquent taxes.
The act clarifies that only current property taxes can be protested if the taxes are in dispute and allows a county collector to remove personal property taxes from the delinquent or back tax book after three years.
JEFF CRAVER