Mississippi HB488 revises the disposition of excess proceeds from the sale of land for nonpayment of taxes.
Mississippi HB488 amends Section 27-41-77 of the Mississippi Code of 1972. It removes the two-year period during which a landowner can request payment of excess proceeds if the land is not redeemed. Instead, if the title of the purchaser is not defeated or set aside, the excess proceeds are retained by the county. If only part of the land is redeemed, the excess is apportioned based on the amount of taxes due at the time of the sale on the respective parts. This act takes effect from July 1, 2026.
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