12-5909.Same; exemption of property from taxation;
exceptions.
(a) Until sold or otherwise disposed of by the bank and
except for special assessments levied by a municipality to finance public
improvements, any property acquired by the bank shall be exempt from the
payment of ad valorem taxes levied by the state and any other political or
taxing subdivision of the state.
(b) Except for special assessments levied by a municipality to finance
public improvements, when the board acquires property pursuant to this act, the
county treasurer shall remove from the tax rolls all taxes, assessments,
charges, penalties and interest that are due and payable on the property at the
time of acquisition by the board.
(c) Property held by the bank shall remain liable for special assessments
levied by a municipality to finance public improvements, but no payment thereof
shall be required until such property is sold or otherwise conveyed by the
bank.
(d) The governing body of any municipality which has levied special
assessments on property acquired by the bank may abate part or all of the
special assessments, and the bank and governing body may enter into agreements
related thereto. Any special assessments that are abated shall be removed from
the tax rolls by the county treasurer as of the effective date of the
abatement.
12-5909.Same; exemption of property from taxation;
exceptions.
(a) Until sold or otherwise disposed of by the bank and
except for special assessments levied by a municipality to finance public
improvements, any property acquired by the bank shall be exempt from the
payment of ad valorem taxes levied by the state and any other political or
taxing subdivision of the state.
(b) Except for special assessments levied by a municipality to finance
public improvements, when the board acquires property pursuant to this act, the
county treasurer shall remove from the tax rolls all taxes, assessments,
charges, penalties and interest that are due and payable on the property at the
time of acquisition by the board.
(c) Property held by the bank shall remain liable for special assessments
levied by a municipality to finance public improvements, but no payment thereof
shall be required until such property is sold or otherwise conveyed by the
bank.
(d) The governing body of any municipality which has levied special
assessments on property acquired by the bank may abate part or all of the
special assessments, and the bank and governing body may enter into agreements
related thereto. Any special assessments that are abated shall be removed from
the tax rolls by the county treasurer as of the effective date of the
abatement.
12-5909.Same; exemption of property from taxation;
exceptions.
(a) Until sold or otherwise disposed of by the bank and
except for special assessments levied by a municipality to finance public
improvements, any property acquired by the bank shall be exempt from the
payment of ad valorem taxes levied by the state and any other political or
taxing subdivision of the state.
(b) Except for special assessments levied by a municipality to finance
public improvements, when the board acquires property pursuant to this act, the
county treasurer shall remove from the tax rolls all taxes, assessments,
charges, penalties and interest that are due and payable on the property at the
time of acquisition by the board.
(c) Property held by the bank shall remain liable for special assessments
levied by a municipality to finance public improvements, but no payment thereof
shall be required until such property is sold or otherwise conveyed by the
bank.
(d) The governing body of any municipality which has levied special
assessments on property acquired by the bank may abate part or all of the
special assessments, and the bank and governing body may enter into agreements
related thereto. Any special assessments that are abated shall be removed from
the tax rolls by the county treasurer as of the effective date of the
abatement.
