Text: SF02010 Text: SF02012 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 445.39, Code 2003, is amended to read 1 2 as follows: 1 3 445.39 INTEREST ON DELINQUENT TAXES. 1 4 If the first installment of taxes is not paid by the 1 5 delinquent date specified in section 445.37, the installment 1 6 becomes due and draws interest of oneand one-halfpercent per 1 7 month until paid, from the delinquent date following the levy. 1 8 If the last half is not paid by the delinquent date specified 1 9 for it in section 445.37, the same interest shall be charged 1 10 from the date the last half became delinquent. However, after 1 11 April 1 in a fiscal year when late delivery of the tax list 1 12 referred to in chapter 443 results in a delinquency date later 1 13 than October 1 for the first installment, interest on 1 14 delinquent first installments shall accrue as if delivery were 1 15 made on the previous June 30. The interest imposed under this 1 16 section shall be computed to the nearest whole dollar and the 1 17 amount of interest shall not be less than one dollar. In 1 18 calculating interest each fraction of a month shall be counted 1 19 as an entire month. The interest percentage on delinquent 1 20 special assessments and rates or charges is the same as that 1 21 for the first installment of delinquent ad valorem taxes. 1 22 Sec. 2. Section 447.1, unnumbered paragraph 1, Code 2003, 1 23 is amended to read as follows: 1 24 A parcel sold under this chapter and chapter 446 may be 1 25 redeemed at any time before the right of redemption expires, 1 26 by payment to the county treasurer, to be held by the 1 27 treasurer subject to the order of the purchaser, of the amount 1 28 for which the parcel was sold, including the fee for the 1 29 certificate of purchase, and interest oftwoone and one-half 1 30 percent per month, counting each fraction of a month as an 1 31 entire month, from the month of sale, and the total amount 1 32 paid by the purchaser or the purchaser's assignee for any 1 33 subsequent year, with interest at the same rate added on the 1 34 amount of the payment for each subsequent year from the month 1 35 of payment, counting each fraction of a month as an entire 2 1 month. The amount of interest must be at least one dollar and 2 2 shall be rounded to the nearest whole dollar. Interest shall 2 3 accrue on subsequent amounts from the month of payment by the 2 4 certificate holder. 2 5 Sec. 3. APPLICABILITY DATE. Section 1 of this Act applies 2 6 to property taxes first delinquent after July 1, 2004. 2 7 EXPLANATION 2 8 This bill changes the interest rates that can be charged 2 9 against delinquent property taxes. The interest rate imposed 2 10 on delinquent taxes before the taxes are sold at tax sale is 2 11 changed from 1.5 percent to 1 percent. This section of the 2 12 bill applies to property taxes first delinquent after July 1, 2 13 2004. 2 14 The interest rate imposed on delinquent taxes sold at tax 2 15 sale is changed from 2 percent to 1.5 percent. This is the 2 16 interest rate that is paid to the person who bought the 2 17 delinquent taxes (i.e., the tax sale certificate holder) when 2 18 the property is redeemed. Because Code section 447.14 2 19 provides that the law in effect at the time of tax sale 2 20 governs redemption, this section of the bill applies to 2 21 property taxes sold on or after July 1, 2004. 2 22 LSB 5139XS 80 2 23 sc/gg/14
Text: SF02010 Text: SF02012 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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