HB 1473

Bill Subjects

County Government Land And Landowners Property Taxes Generally

Abstract

Permits a county to adopt an ordinance imposing a $7 fee for each document recorded on a tract located in the territory of a land bank, and requires the county treasurer to distribute the entire amount collected for the fee to the land bank on a quarterly basis. Provides that for five years after a tract is purchased from a land bank, 50% of the amount of property taxes paid on the tract must be transferred to the land bank. Requires a county executive to provide a land bank in the county with a list of tracts located in the territory of the land bank that: (1) are delinquent on property taxes; and (2) have been offered for public sale at least two times and remain unsold; on an annual basis, and requires the county executive to transfer its interest in a tract on the list to a land bank if requested by the land bank not later than 90 days after it receives the list.