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FACTS YOU
SHOULD KNOW BEFORE BUYING LANDS
FORFEITED TO
THE STATE OF MINNESOTA FOR NON-PAYMENT OF TAXES Public Sales All
tax forfeited lands are appraised and offered at a public sale and sold to the
highest bidder.
The minimum bid acceptable is the appraised value. Private
Sales
Parcels not sold at the
public sale may be purchased at private sale by anyone offering to pay the
appraised value thereof.
Prices cannot be changed unless a parcel is re-appraised, advertised,
and again offered at a public sale. Assurance
Account There is
established in the state treasury a tax forfeited land assurance account.
At the time of sale of a parcel of tax forfeited land, the County
Auditor shall collect, in full, an amount equal to 3% of the total sale price
of the land, which amount is in addition to the total sale price of the land. Conditions
Sales are subject to existing leases, if any; to building restrictions
appearing on record at the time of forfeiture, to easements obtained by any
governmental subdivisions or agency thereof for any public purpose; to all
applicable laws and ordinances; and to the condition that the appraised value
does not represent a basis for future taxes.
Local
improvements
constructed but not yet
assessed must be assumed by the purchaser.
Reassessment of canceled improvement assessments may be made in
accordance with Minnesota Statutes reading, in part, as follows: M.S.A.
'
429.071, subd. 4
Reassessment, tax forfeited land.
When a parcel of tax forfeited land is returned to private ownership
and the parcel is benefited by an improvement for which special assessments
were canceled because of the forfeiture, the municipality that made the
improvement may, upon notice and hearing as provided for the original
assessment, make a reassessment or a new assessment as to the parcel in an
amount equal to the amount remaining unpaid on the original assessment. M.S.A.
'
435.23 Assessment or reassessment of tax forfeited lands returned to private
ownership.
Any municipality, political subdivision, or other public authority may
make a reassessment or new assessment pursuant to section
429.071, subdivision 4, notwithstanding that the original assessment
may have been made pursuant to other general law or a special law. Title
The purchaser will receive a AReceipt@
at the time of purchase and will receive a deed from the State of Minnesota
through the Commissioner of Revenue at a later date.
Purchaser must pay applicable deed fees.
The law provides that this conveyance shall have the force and effect
of a patent from the State. State
Deed
A $25.00 fee must be
paid by the purchaser to cover the costs of the state deed.
Payment must be paid at the time of sale.
M'
282.014 Deed
Tax
Deed tax must be paid at the
time of sale. The amount of the tax is based on the amount of the sale, at the
rate of 0.33% of the Basic Sale Price, with a minimum of $1.65.
M'
287.21 Recording
M'
282.301 requires full payment for recording in the County Recorder's Office
before the state deed can be given to the purchaser.
The present charge for recording is $46.00 per deed. Information
regarding forfeited lands may
be obtained in the office of the Isanti County Auditor, Boundaries
Isanti County is not
responsible for locating boundaries of tax-forfeited lands. |