TAX SALE PROCEDURES FOR THE REHABILITATION OF ABANDONED, VACANT AND NUISANCE PROPERTIES James E. Nervig Brick Gentry, P. C. 6701 Westown Parkway, Suite 100 West Des Moines, Iowa 50266 Telephone: 515 -274 -1450
A. Negotiation by City or County for Voluntary Assignment of Tax Sale Certificate n n n 1. Authorization: Iowa Code Section 446. 31 2. Types of Property Affected: Any parcel of real estate, and any mobile homes in mobile home parks 3. Time Period for Starting Tax Sale Certificate Foreclosure: 18 months after tax sale 4. Time Period for Completing Tax Sale Certificate Foreclosure: 90 days 5. Cost: Negotiable
B. Purchase of Tax Sale Certificate by City or County at Tax Sale n n n 1. Authorization: Iowa Code Section 446. 19 A 2. Types of Property Affected: Any “abandoned property assessed as residential property or as commercial multifamily housing property. . . suitable for use as housing following rehabilitation” or “vacant lot” 3. Time Period for Starting Tax Sale Certificate Foreclosure: 3 months after tax sale 4. Time Period for Completing Tax Sale Certificate Foreclosure: 90 days 5. Cost: None 6. Assignment: Certificate assignable to redeveloper
C. Purchase of Assignment of Tax Sale Certificate by City or County From Certificate Holder n n n 1. Authorization: Iowa Code Section 446. 19 A 2. Types of Property Affected: Any “abandoned property assessed as residential property or as commercial multifamily housing property. . . suitable for use as housing following rehabilitation” or “vacant lot” 3. Time Period for Starting Tax Sale Certificate Foreclosure: 18 months after tax sale 4. Time Period for Completing Tax Sale Certificate Foreclosure: 90 days 5. Cost: City or county pays certificate holder the total amount of principal and interest due 6. Assignment: Certificate assignable to redeveloper
D. Purchase of Tax Sale Certificate by Redeveloper at “Public Nuisance” Tax Sale n n n 1. Authorization: Iowa Code Section 446. 19 B 2. Types of Property Affected: “Parcels that are abandoned property and are assessed as residential property or as commercial multifamily housing property and that are, or are likely to become, a public nuisance. ” 3. Qualified Bidders at Public Nuisance Tax Sale: Bidder must enter a rehabilitation agreement with the city or county 4. Time Period for Starting Tax Sale Certificate Foreclosure: 3 months after tax sale 5. Time Period for Completing Tax Sale Certificate Foreclosure: 90 days 6. Cost: No cost to city or county, because redeveloper/bidder pays all amounts due at tax sale
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