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HB 1667 - Ad valorem tax foreclosures; redefine redemption amount

Martin, Jim (47th)

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First Reader Summary

A BILL to amend Code Section 48-4-77 of the Official Code of Georgia Annotated, relating to definitions relative to ad valorem tax foreclosures, so as to revise a definition; to provide that the redemption amount when real property is sold at action for delinquent taxes includes the amount of delinquent ad valorem taxes outstanding on the date of redemption or sale; and for other purposes.

HB 1667                                            LC 22 3959 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Code Section 48-4-77 of the Official Code of 
  1- 2  Georgia Annotated, relating to definitions relative to ad 
  1- 3  valorem tax foreclosures, so as to revise a definition; to 
  1- 4  provide that the redemption amount when real property is 
  1- 5  sold at auction for delinquent taxes includes the amount of 
  1- 6  delinquent ad valorem taxes outstanding on the date of 
  1- 7  redemption or sale; to repeal conflicting laws; and for 
  1- 8  other purposes. 
 
  1- 9       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-10                           SECTION 1. 
 
  1-11  Code Section 48-4-77 of the Official Code of Georgia 
  1-12  Annotated, relating to definitions relative to ad valorem 
  1-13  tax foreclosures, is amended by striking paragraph (2) in 
  1-14  its entirety, and inserting in its place the following: 
 
  1-15      "(2) 'Redemption amount' means the full amount of the 
  1-16      delinquent ad valorem taxes outstanding on the date of 
  1-17      redemption or sale, accrued interest at the rate 
  1-18      specified in Code Section 48-2-40, penalties determined 
  1-19      in accordance with Code Section 48-2-44, and costs 
  1-20      incurred by the governmental entity in collecting such 
  1-21      taxes including without limitation the cost of title 
  1-22      examination and publication of notices." 
 
  1-23                           SECTION 2. 
 
  1-24  All laws and parts of laws in conflict with this Act are 
  1-25  repealed. 
 
 
 
 
 
 
 
 
 
 
 
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