Minimum bid prices; sale of adjudicated property; sale of tax lien held by the

political subdivision; sale of immovable property to enforce a tax lien held by a political subdivision A.

# (1)

The governing authority of each political subdivision may elect to sell adjudicated property at a public sale to the highest bidder without setting a minimum bid or requiring an appraisal.

# (2)

If the governing authority elects to set a dollar amount as a minimum bid for the public sale of adjudicated property, the minimum bid shall be no less than the total amount of statutory impositions, governmental liens, and costs of sale.

# (3)

If the governing authority elects to require an appraisal of adjudicated property to be sold at public sale, the political subdivision shall appoint a licensed appraiser to appraise and value the property. The minimum bid at the first public sale shall be at least two-thirds of the appraised value of the property. If the property fails to sell at the first public sale, the minimum bid at the second sale shall be one-third of the appraised value of the property.
B. The governing authority of each political subdivision may elect to set a minimum bid for the public sale of tax liens held by the political subdivision.
C. For the public sale of immovable property to enforce a tax lien held by the political subdivision, the governing authority of the political subdivision shall set a minimum bid that is not less than two-thirds of the value of the immovable property established by the assessor's current assessment.
D. Notwithstanding the provisions of Subsection A of this Section, the governing authority of each political subdivision may allow an adjoining landowner to purchase adjudicated property for any price set by the governing authority without public bidding at a public meeting of the governing authority; provided, that the governing authority of an applicable political subdivision determines that the adjoining landowner has maintained the adjudicated property for a period of one year prior to the sale. Such a sale shall be deemed a public sale under the provisions of this Subpart.
Acts 2008, No. 819, §1, eff. Jan. 1, 2009; Acts 2009, No. 511, §2; Acts 2010, No.
947, §1; Acts 2024, No. 774, §1, eff. Jan. 1, 2026; Acts 2025, No. 411, §1, eff. Jan. 1, 2026.

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