IN SB0386

Allows property owners with real estate subject to tax sale between July 1, 2012 and June 30, 2013 to remove their property from sale by paying only delinquent taxes and special assessments before the sale date

Cancels all penalties and administrative costs (including postage, publication costs, and other county expenses) for qualifying properties when delinquent taxes are paid before the sale

Excludes industrial property (as classified by the department of local government finance) from this penalty relief provision

Requires county auditors to include an explanation of this removal option in tax sale notices sent to property owners

Takes effect immediately upon passage