For tax sales conducted by the county after September 1, 2012, the County Treasurer may accept a bid on a tract or item of real property that is greater than, or equal to, the lesser of:
(A) The amount determined under I.C. 6-1.1-24-5(f) for the tract or item of real property; or
(B) Seventy-five percent of the gross assessed value of the tract, or item, of real property, as determined on the most recent assessment date.
(Council Ord. 2012-02, passed 8-6-2012)