CP Buyer Update




Navigating Arizona’s statutes of limitation for property tax lien foreclosure

March 20, 2009

Statutes of limitation provide a finite time in which to bring suit on a claim, and after that period, the claim is barred. In the tax lien context, the certificate of purchase “expires” if not timely enforced.

Arizona has three different statutes pertaining to limitations on foreclosure of property tax liens. Multiplicity of statutes is the result of different legislative sessions treating the subject of tax lien expiration prospectively first (i.e., not applying to already-issued tax liens), then retrospectively. Because there are differences among them, the statutes create both redundancy and ambiguity.

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Working with "Registered" Certificates of Purchase

March 14, 2009

Do not be alarmed if you recently purchased tax liens from one or more of the Arizona County Treasurer’s back tax auctions and you did not receive a physical certificate of purchase. Arizona law allows county treasurers to adopt a “registered certificate” system. Under this system, they no longer issue paper certificates of purchase. Instead, they periodically send out a portfolio statement that indicates the certificate of purchase number, tax parcel number, date of purchase, interest rate, and amount paid, as well as the name of the bidder, and bidder number, if one is used.

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Pledging to not raise taxes

by Mary Jo Pitzl, Political Insider

azcentral.com/The Arizona Republic

February 18, 2009

At least 38 of Arizona's 90 lawmakers have signed the State Taxpayer Protection Pledge promoted by Americans for Tax Reform.

That means they have promised to "oppose and vote against any and all efforts to increase taxes," according to the wording of the pledge.

Full Article

 
Dems tout bills they say complement Obama's plan

by Carolina Madrid - Feb. 19, 2009 07:53 PM
Cronkite News Service

A day after President Barack Obama visited Arizona to announce his relief plan for beleaguered homeowners, House Democrats on Thursday touted five bills they said would offer further help for those facing foreclosure.

"Federal action is not enough," said Attorney General Terry Goddard, who joined a news conference on a plan called "Foreclosure Relief for a Stronger Arizona."

Full Article

 
OPINION: It's 'impossible' to raise taxes under state's rules
Special to the Arizona Daily Star
Tucson, Arizona | Published: 02.19.2009
Arizona newspapers report that House Republicans' top priority is to permanently repeal the state property tax, calculated to be worth $250 million in annual revenue
We need a "creative finance" specialist to explain how repealing the tax will close our severe budget deficit. This is more a reflection of the success of well-paid corporate lobbyists than principle over an unfair situation.
 
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