§2202. 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.