From the Northwest Indiana Times:
"Counties may be able to clear their backlogs of tax sale properties and get delinquent property owners back paying what they owe under legislation approved Tuesday by the Indiana Senate.
House Bill 1090 allows counties to adopt an ordinance reducing the minimum price for a tax sale property to 75 percent of the assessed value of the property.
Currently, tax sale purchasers must pay at least the total of back taxes, penalties, cost of the tax sale, the unpaid cost of prior tax sales and other county fees, which often exceeds the value of the property.
Allowing counties to accept 75 percent of the assessed value, or the current charges if they are lower, should get more parcels off the county's books and back on the tax rolls, said the sponsors, state Sen. Ed Charbonneau, R-Valparaiso, state Sen. Lonnie Randolph, D-East Chicago, and state Sen. Earline Rogers, D-Gary.
The legislation also allows counties to grant a one-time amnesty to property owners who are delinquent on their property taxes by waiving interest and penalties on unpaid taxes so long as the back taxes owed are paid by July 1, 2013.
The Republican-controlled Senate approved the measure 50-0. The Republican-controlled House must agree to Senate changes before the proposal can go to the governor."
Read more: http://www.nwitimes.com/news/local/govt-and-politics/counties-may-get-new-options-for-unpaid-property-taxes/article_9475eb60-ad07-50a7-b9f5-dc0e732fc0d2.html#ixzz1nPIvteQx
