SB 1113 Summary

• County treasurer must mail tax statements to mortgagors before November 1 and must separately list primary and secondary taxes for current and previous tax years.

• Tax statements to mortgagors must include information about additional state aid to school districts for class three property, if applicable.

• County treasurer shall provide tax statements to mortgagees upon request in any form established by the county treasurer.

• Mortgagees must return unsatisfied tax statements to the county treasurer within 30 working days or forward current tax information to the mortgagor after the mortgage is satisfied.

• Mortgagees who fail to comply with requirements and cause property taxes to become delinquent are liable to the mortgagor for all interest and penalties on the delinquent tax.