AR SB551

County assessors must assemble accurate legal descriptions of all real property tracts and lots from all available sources of information sufficient to identify and distinguish each tract from others.

County assessors may demand owners or occupants provide title papers or surveys; if they refuse, the assessor may hire a county surveyor to prepare a description at the owner's expense, which is added to taxes assessed on the property.

The Commissioner of State Lands may correct partial or incomplete descriptions of tax-delinquent land and must notify the owner and interested parties before sale.

The statute of limitations to contest the validity of a tax deed conveyance is extended from one (1) year to fifteen (15) years, with additional time allowed for persons with disabilities, minors, or those on active military duty.

Taxpayers or interested parties may obtain cancellation of a limited warranty deed by filing suit and depositing the full purchase price plus compound interest at 6% per annum and a 20% cancellation fee into the court registry.