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H.86

AN ACT RELATING TO SHORTENED PROPERTY TAX REDEMPTION PERIOD

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  32 V.S.A. § 5259 is amended to read:

§ 5259.  MUNICIPALITY MAY ACQUIRE LAND ON TAX SALE

By the act of its mayor or selectmen, when a tax warrant is extended on any land in this state, the city or town by which the tax is assessed may become the purchaser at the tax sale thereof, if a bid not equal to the tax and costs is made at such sale.  When a tax warrant is extended on a mobile home located in a mobile home park in proceedings initiated after notice pursuant to 10 V.S.A. § 6248(c), the municipality may purchase the mobile home or may sell the mobile home to the highest bidder at the sale, although the bid is less than the taxes and costs due the municipality.  If there is a release or a potential release of a hazardous substance, as defined in subdivision 6602(16) of Title 10, upon land that municipality purchases at tax sale, the municipality shall have the right, prior to the expiration of the redemption period, to enter onto the land for the purpose of assessing and remediation on the land.

Sec. 2.  32 V.S.A. § 5260 is amended to read:

§ 5260.  REDEMPTION

When the owner or mortgagee of lands sold for taxes, his or her representatives or assigns, within one year from the day of sale, pays or tenders to the collector who made the sale or in the case of his or her death or removal from the town where the land lies, to the town clerk of such town, the sum for which the land was sold with interest thereon calculated at a rate of one percent per month or fraction thereof from the day of sale to the day of payment, a deed of the land shall not be made to the purchaser, but the money paid or tendered by the owner or mortgagee, or his or her representatives or assigns, to the collector or town clerk shall be paid over to such purchaser on demand.  In the event that a municipality purchases contaminated land pursuant to section 5259 of this title, the cost to redeem shall include all costs expended for assessment and remediation, including expenses incurred or authorized by any local, state, or federal government authority.

 



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us