HB468 Alabama 2018 Session

Under existing law, a party desiring to redeem property sold to the state for unpaid taxes is required to pay the amount of money for which the property was sold, together with the amount of all taxes found to be due on the property since the date of sale, with interest at the rate of 12 percent

This bill would provide that a party desiring to redeem property sold to the state for unpaid taxes would pay interest only on the taxes due at the time of default

To amend Sections 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, and 40-10-122, Code of Alabama 1975; to provide that a party desiring to redeem property sold to the state for unpaid taxes pay interest of not more than eight percent only on the taxes due at the time of default.