HB1440 amends the Property Tax Code to exempt tax deeds issued to a county as trustee from municipal transfer stamps and real estate transfer taxes.
HB1440 amends the Property Tax Code to modify the recording process for tax deeds issued to a county as trustee. Specifically, it ensures that such tax deeds do not require a municipal transfer stamp or be subject to any municipal real estate transfer taxes, requirements, or certifications prior to recording. This change affects the process by which properties sold for nonpayment of taxes are transferred to the county as trustee.
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