HB3569 amends the Property Tax Code to establish procedures for excess proceeds sales and indemnity fund surcharges.
HB3569 amends the Property Tax Code to allow any owner of property sold for delinquent taxes to request an excess proceeds sale if the property's value exceeds the tax burden. The bill sets forth the form and notice requirements for such requests and provides for the distribution of any surplus funds. It also mandates an indemnity fund surcharge fee of $500 for tax deeds issued to entities other than the county, a specific county agency, or a municipality. The bill further outlines the process for redeeming property after a tax sale and the conditions under which a tax deed may be vacated.
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