2013 Arizona Revised Statutes
Title 42 - Taxation
§ 42-17309 Sale of deferred tax liens to state; interest on lien


AZ Rev Stat § 42-17309 (through 1st Reg Sess 51st Leg. 2013) What's This?

42-17309. Sale of deferred tax liens to state; interest on lien

A. On or before January 15 of each year, the county treasurer shall sell to the state treasurer or to the county, or both, all certificates of deferred taxes issued in the county under this article during the previous tax year.

B. The amount of the sale shall include reimbursement for the county treasurer's cost of administering this article in an amount of ten dollars, which shall be deposited in the taxpayers' information fund established by section 11-495, plus the cost of recording the copy of the certificate of deferral.

C. A certificate that is sold under this section bears simple interest monthly, payable on redemption or payment of tax or on enforcement of the lien as provided by this article. On or before October 1 of each year, the state treasurer shall compute the rate of interest that applies to certificates that will be sold during the following tax year. The rate shall equal the average annual rate earned on the local government investment pool under section 35-316 plus two percentage points, rounded to the next higher full percentage.

D. Certificates of deferral are valid investments of state trust monies pursuant to section 35-313. The state treasurer shall keep a record of certificates of deferral that are sold to the state in the same manner as other investment securities.

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