Colorado § 39-12-111 Land wrongfully sold - repayment

Colorado Statutes

§ 39-12-111 — Land wrongfully sold - repayment

Colorado § 39-12-111

Title 39Taxation

Art.Redemption

This text of Colorado § 39-12-111 (Land wrongfully sold - repayment) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 39-12-111 (2026).

Text

(1)When, by mistake or error of the treasurer, county clerk and recorder, or assessor or from double assessment, a tax lien has been sold on land upon which no tax was due at the time, the county shall reimburse the purchaser in the amount paid by him in connection with the purchase of the tax lien on such land, together with interest from the date of purchase at the rate which is determined as provided in this section. Reimbursement shall be made from the various funds to which the tax was originally distributed; except that interest shall be paid from the county general fund. The treasurer, county clerk and recorder, or assessor, as the case may be, and his sureties on his official bond shall be liable to the county for such amounts reimbursed as a result of sales made only th

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(1) When, by mistake or error
of the treasurer, county clerk and recorder, or assessor or from double assessment,
a tax lien has been sold on land upon which no tax was due at the time, the county
shall reimburse the purchaser in the amount paid by him in connection with the
purchase of the tax lien on such land, together with interest from the date of
purchase at the rate which is determined as provided in this section.
Reimbursement shall be made from the various funds to which the tax was
originally distributed; except that interest shall be paid from the county general
fund. The treasurer, county clerk and recorder, or assessor, as the case may be, and
his sureties on his official bond shall be liable to the county for such amounts
reimbursed as a result of sales made only through willful misconduct.

(2) (a) The annual rate of interest shall be two percentage points above the
discount rate, which discount rate shall be the rate of interest a commercial bank
pays to the federal reserve bank of Kansas City using a government bond or other
eligible paper as security, and shall be rounded to the nearest full percent.

(b) Notwithstanding any other provision of this subsection (2), the rate of
interest shall be no lower than eight percent per annum compounded annually.

(3) The commissioner of banking shall establish the annual rate of interest
based upon the computation specified in subsection (2) of this section. Such annual
rate of interest shall be so established as of September 1, 1981, to become effective
October 1, 1981. Thereafter, on September 1 of each year, the annual rate of interest
shall be established in the same manner, to become effective on October 1 of the
same year.

Legislative History

Source: L. 64: R&RE, p. 747, � 1. C.R.S. 1963: � 137-12-11. L. 67: p. 951, � 24. L. 69: p. 1128, � 1. L. 81: Entire section amended, p. 1862, � 2, effective September 1. L. 85: (1) amended, p. 1250, � 39, effective July 1. L. 88: (2) amended, p. 1294, � 28, effective May 23.