HB462 - Changes the law regarding delinquent tax collections by setting the maximum interest rate charged on delinquent tax payments at five percent and authorizes a waiver for certain property tax penalties

HB 462

Changes the law regarding delinquent tax collections by setting the maximum interest rate charged on delinquent tax payments at five percent and authorizes a waiver for certain property tax penalties

Sponsor:

LR Number:

1322H.01I

Committee:

Last Action:

1/31/2023 - Public Hearing Completed (H)

Journal Page:

Title:

Effective Date:

House Handler:

Richey

Current Bill Summary

HB 462 Richey, Doug

HB 462 -- PROPERTY TAX

SPONSOR: Richey

This bill limits the rate of interest to be collected on delinquent real or personal property tax to equal one-half of the adjusted prime rate charged by banks as of January first of the immediately succeeding year.

The fee for collection of any delinquent or back taxes shall be 5% of the principal of the delinquent sums owed.

The collector may waive all penalties and interest or a portion of any penalty and interest on any delinquent real or personal property taxes owed.

Amendments

No Amendments Found.