Vote Smart's Synopsis:

Vote to pass with amendment a bill that specifies protections for the elderly from tax lien foreclosures

Highlights:

• Requires the municipal treasurer to notify party names on tax lien mortgage no more than 45 days nor less than 30 days before the foreclosing date (Sec.2).

• Specify protections for individuals 65 years and older to certain rights relating to tax lien foreclosures (Sec. 3).

• Requires municipality to contact the owner and will offer to assist the individual in applying for a tax abatement pursuant (Sec. 3).

• Requires the state to inform the owner of reverse mortgage if necessary (Sec. 3).

• Requires the state to inform the owner of their right to a mediator to maintain a payment schedule (Sec. 3).

• Requires a notice to be sent by mail to individual if taxes delinquency is detected (Sec. 3).

• Requires municipal employees to report to the Department of Health and Human services if there is any suspicion of any of the following related to the individual (Sec. 3):

• A physical or mental condition interfering with the individual’s ability to conduct business;

• The individual is a victim of abuse or neglect;

• A victim of self-neglect; or

• A victim of exploitation.

• Specifies if the owner is 65 years of age or older and living on their own, the municipality cannot take action to sell the property of a 3rd party until the value of the municipality lien for nonpayment of taxes exceeds 50% of the municipal assessed value of the property (Sec. 4).

• Requires the property cannot be sold for any less than its municipal assessed value (Sec. 4).

• Requires the municipality or any purchase of tax lien mortgage property not to take action to remove the former owner until after a sale or any right the the former owner may have to purchase the property has expired (Sec. 4).

• Requires any proceeds related to the following be paid to the former owner (Sec. 4):

• Sale of property in excess of the tax owed;

• Interest, allowable fees or real estate broker fees; and

• Mediation service fees.

Full Bill Text