SB 1496 Summary

• Extends the delinquency period for property tax forfeiture from 2 years to 3 years before property can be forfeited to the county treasurer for unpaid taxes, interest, penalties, and fees.

• Modifies the forfeiture timeline so property delinquent for 24 months (instead of 12 months) becomes subject to forfeiture on March 1 of the applicable year.

• Changes the notice and forfeiture procedures by requiring county treasurers to prepare forfeiture lists based on property delinquent for 2 years after taxes were returned as delinquent, rather than in the immediately succeeding year.

• Adjusts redemption interest rates to 1/2% per month (instead of 1%) for additional interest accrued after forfeiture, computed from the date of forfeiture.

• Adds a $175.00 fee per parcel when property is forfeited to the county treasurer, with fees transmitted to the state's land reutilization fund.