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House Bill 1161


House Bill 1161

ARCHIVE (2003)

Latest Information

 

DIGEST OF HB1161 (Updated April 2, 2003 2:21 PM - DI 84)


Property tax sales. Allows a county to sell one or more tracts or items together at tax sale. With respect to a property that has not sold for the minimum price at two tax sales, allows the county to sell the tax sale certificate for less than the minimum price and establishes procedures for the sale and for redemption. Increases the maximum assessed value of property that can be sold to an abutting landowner to from $5,000 to $15,000. Increases the threshold under which an appraisal is not required from $2,000 to $6,000 in assessed value. Provides that the purchase price of real property financed by the issuance of bonds may not exceed the average of two appraisals of the fair market value of the land.
Current Status:
 Law Enacted
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