|BILL AS INTRODUCED||2007-2008|
Introduced by Representative LaVoie of Swanton
Subject: Taxation; property tax; delinquency sale
Statement of purpose: This bill proposes to allow a town to bid more than the taxes due on a delinquent property at a tax sale, if the town could then sell the property at a profit for town municipal taxes.
AN ACT RELATING TO TOWN PURCHASE OF DELINQUENT PROPERTIES
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 32 V.S.A. § 5254(a) is amended to read:
§ 5254. Sale of realty
(a) When the tax with costs and fees is not paid before the day of sale, the real property on which the taxes are due shall be sold to pay such taxes, costs, and fees. The town governing body may choose to purchase the property for no more than the sum of the taxes, costs, and fees, and, notwithstanding any other provision of law, may resell the property for a profit.
The Vermont General Assembly
115 State Street