(A) The applicant who wishes to bid on a tract or item of real property in a Commissioners tax certificate sale (certificate sale) must pay an application fee of $500 to register for the certificate sale being held pursuant to I.C. 6-1.1-24-6.1.
(B) There is hereby established a separate fund, Fund No. 384, to be used for the deposit and refund of the $500 application fee.
(C) In the event a registrant purchases a tax certificate, the fee shall be applied towards the purchase price and transferred to the Lake County Commissioners Tax Certificate Sales Fund, Fund No. 385.
(D) In the event the registrant does not win a bid to purchase a tax certificate, the fee shall be refunded to the registrant from Fund No. 384. Notwithstanding, in the event the registrant does not win the bid to purchase the tax certificate, and the registrant owes taxes on the tract or item of real property, then the fee is applied towards those taxes. If there is then a balance left, this amount is refunded.
(Ord. 1427D, passed 12-11-2018)
Cross-reference:
Non-Reverting Property Sales Fund for Commissioner’s tax sales which occur subsequent to 8-1-2004, see § 37.079