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Arkansas Code Title 26. Taxation § 26-37-302. Payment required

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) To redeem a tax-delinquent parcel with the county collector or the Commissioner of State Lands or to purchase a tax-delinquent parcel at the Commissioner of State Lands' sale, the redeemer or purchaser of the tax-delinquent parcel shall pay all delinquent taxes, plus:

(1) Ten percent (10%) simple interest for each year of delinquency;

(2) A ten percent (10%) penalty for each year of the delinquency; and

(3) The costs incurred by the county and the Commissioner of State Lands.

(b) The penalties and interest shall accrue beginning on October 16 in the year of delinquency.

(c) Payment to redeem a tax-delinquent parcel under this section shall be made by cash or certified funds, including without limitation a credit card, debit card, electronic check, escrow check, money order, cashier's check, or certified bank check if the redemption occurs:

(1) Within thirty (30) days before the date of the scheduled tax-delinquent property auction; or

(2) Within thirty (30) days before the sale date of the tax-delinquent parcel under bid in an unsold-property auction.

(d) The Commissioner of State Lands may approve additional forms of payment by promulgation of rule.

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Cite this article: FindLaw.com - Arkansas Code Title 26. Taxation § 26-37-302. Payment required - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-37-302/

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