SB53 Alabama 2015 Session

Under existing law, a person redeeming land sold at a tax sale to one other than the state is required to pay interest on the tax due and on the excess bid at the tax sale

This bill would require the person desiring to redeem the land to deposit with the judge of probate the amount for which the land was sold, with interest payable only on the amount of tax due on the date of the sale

This bill would reduce the interest payable on land sold for unpaid tax, insurance premiums, permanent improvements, and the value of all preservation improvements

This bill would provide for retroactive effect

To amend Section 40-10-122, Code of Alabama 1975, to provide further for the redemption process for land sold for taxes to a party other than the state; reduce the interest payable on land sold for unpaid tax, insurance premiums, permanent improvements, and the value of all preservation improvements; and to provide for retroactive effect.