Section 40-10-186

Purchase price.

THIS SECTION WAS AMENDED BY ACT 2022-208 IN THE 2022 REGULAR SESSION, EFFECTIVE APRIL 4, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

(a) The purchase price for a tax lien shall be the amount of delinquent taxes plus any interest, penalties, fees, and costs accrued as of the date of the auction or sale.

(b) The purchase price for a tax lien shall be paid in a form acceptable to the tax collecting official not later than one hour before close of business on the date of the auction or sale or, if the auction is online, not later than the close of business two days following the date of the auction.

(c) The purchase price for a tax lien received by the tax collecting official shall be credited to the tax collecting official for purposes of calculating commissions, if any, on taxes collected by the tax collecting official pursuant to Section 40-5-4.

(Acts 1995, No. 95-408, p. 864, §8; Act 2018-577, §1; Act 2022-208, §1.)