Text: SF00163 Text: SF00165 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 447.1, unnumbered paragraph 1, Code 1 2 1997, is amended to read as follows: 1 3 A parcel sold under this chapter and chapter 446 may be 1 4 redeemed at any time before the right of redemption expires, 1 5 by payment to the county treasurer, to be held by the 1 6 treasurer subject to the order of the purchaser, of the amount 1 7 for which the parcel was sold, including the fee for the 1 8 certificate of purchase, and interest oftwoone percent per 1 9 month, counting each fraction of a month as an entire month, 1 10 from the month of sale, and the total amount paid by the 1 11 purchaser or the purchaser's assignee for any subsequent year, 1 12 with interest at the same rate added on the amount of the 1 13 payment for each subsequent year from the month of payment, 1 14 counting each fraction of a month as an entire month. The 1 15 amount of interest must be at least one dollar and shall be 1 16 rounded to the nearest whole dollar. Interest shall accrue on 1 17 subsequent amounts from the month of payment by the 1 18 certificate holder. 1 19 EXPLANATION 1 20 Prior to being sold at tax sale, delinquent taxes incur an 1 21 interest penalty at the rate of 1.5 percent per month payable 1 22 to the county. After tax sale, the delinquent taxes incur an 1 23 interest penalty of 2 percent per month payable to the tax 1 24 sale certificate holder upon redemption of the property by the 1 25 delinquent taxpayer. This bill reduces from 2 percent per 1 26 month to 1 percent per month the rate of interest applied 1 27 against the amount of delinquent property taxes on parcels 1 28 sold at tax sale. By operation of law, by means of a 1 29 reference in Code section 445.3 to Code section 447.1, the 1 30 bill also reduces from 2 percent to 1 percent per month the 1 31 interest penalty that attaches to a property tax judgment 1 32 obtained by a city or county as a tax sale certificate holder. 1 33 LSB 2018SS 78 1 34 sc/sc/14
Text: SF00163 Text: SF00165 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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