A bill for an act relating to cities or counties canceling the sale of property containing abandoned buildings to a tax sale certificate holder.

This bill (SF 28) allows cities or counties in Iowa to cancel a tax sale of property containing an abandoned building and refund the purchase money to the tax sale certificate holder (the buyer at the tax auction). If a city or county provides a verified statement confirming the property has an abandoned building (as defined in existing law) and files a petition with the county treasurer, the sale must be canceled. The county treasurer must then refund the full purchase price plus 2% monthly interest (calculated from the purchase date) on the amount paid, including any additional taxes owed. This applies specifically to properties sold at tax sales before redemption or issuance of a tax deed.