HB1792: Local taxes; nonjudicial sale of tax delinquent real properties, threshold for nonjudicial sale.

Legislative Summary

Local taxes; nonjudicial sale of tax delinquent real properties; threshold for nonjudicial sale. Raises the assessment threshold at which a local treasurer or other officer responsible for collecting taxes has general authority to sell real property with more than three years of delinquent taxes from $10,000 or less to $15,000 or less. The bill also raises the assessment range at which such local treasurer or officer may sell parcels of real property with more than three years of delinquent taxes and that meet certain criteria from more than $10,000 but no more than than $25,000 to more than $15,000 but no more than $30,000. The bill also increases the assessment threshold for the nonjudicial sale of real property with more than three years of delinquent taxes when such property is (i) unimproved, (ii) one-half acre or less in size, and (iii) located within a designated urban redevelopment or revitalization zone from properties assessed at more than $25,000 but no more than $40,000 to properties assessed at more than $30,000 but no more than $40,000.