Introduced by Representatives Howard of Rutland City, Allaire of Rutland City, DePoy of Rutland City and Louras of Rutland City
Subject: Property tax; delinquency; shortened redemption period
Statement of purpose: This bill proposes to shorten the redemption period for unknown property tax to two months if the owner cannot be located.
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. § 5260 is amended to read:
§ 5260. REDEMPTION
(a) 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, his or her representatives or assigns, to the collector or town clerk shall be paid over to such purchaser on demand.
(b) The one-year redemption period under subsection (a) of this section shall be shortened to 60 days in any case in which the collector for the town where the land lies has been unable to contact the owner of the property by telephone and by registered letter sent to the owner’s last known address.
The Vermont General Assembly
115 State Street