Iowa HSB205 mandates cities or counties to refund purchase money plus interest to tax sale certificate holders if a property sale is canceled due to.

Iowa HSB205 amends the process for cities or counties canceling the sale of property containing abandoned buildings to a tax sale certificate holder. If a city or county files a petition against the holder of a tax sale certificate and verifies the property contains an abandoned building, the county treasurer must cancel the sale and refund the purchase money to the holder. The bill requires the refund to include interest of 2 percent per month on the sum of the purchase money and any added amounts, calculated from the date of purchase until the refund is made.

Iowa HSB205 mandates cities or counties to refund purchase money plus interest to tax sale certificate holders if a property sale is canceled due to.

Iowa HSB205 amends the process for cities or counties canceling the sale of property containing abandoned buildings to a tax sale certificate holder. If a city or county files a petition against the holder of a tax sale certificate and verifies the property contains an abandoned building, the county treasurer must cancel the sale and refund the purchase money to the holder. The bill requires the refund to include interest of 2 percent per month on the sum of the purchase money and any added amounts, calculated from the date of purchase until the refund is made.