Iowa Code Title X. Financial Resources [Chs. 421-454] § 447.1. Redemption--terms

1. A parcel sold under this chapter and chapter 446 may be redeemed at any time before the right of redemption expires, by payment to the county treasurer, to be held by the treasurer subject to the order of the purchaser, of the amount for which the parcel was sold, including the fee for the certificate of purchase, and interest of two percent per month, counting each fraction of a month as an entire month, from the month of sale, and the total amount paid by the purchaser or the purchaser's assignee for any subsequent year, with interest at the same rate added on the amount of the payment for each subsequent year from the month of payment, counting each fraction of a month as an entire month.  The amount of interest must be at least one dollar and shall be rounded to the nearest whole dollar.  Interest shall accrue on subsequent amounts as provided in section 446.32.  The redemption must be received by the treasurer or entered through the county treasurer's authorized internet site on or before the last day of the month to avoid additional interest being added to the amount necessary to redeem.  However, if the last day of a month falls on a Saturday, Sunday, or a holiday, the payment must be received by the treasurer or entered through the county treasurer's authorized internet site by the close of business on the first business day of the following month.

2. When the county or city is the certificate holder of the parcel redeemed from a sale held under section 446.19, the redemption amount shall be apportioned among the several funds for which the taxes were levied.  All interest, costs, and fees shall be apportioned to the general fund of the county regardless of who is the certificate holder.  If a city is the certificate holder of the parcel redeemed from a sale held under section 446.7 or 446.28, the city shall be entitled to the total amount redeemed.