§ 45. Sale of property for unpaid taxes. If the owner, mortgagee or
occupant of or party in interest in such real estate does not pay such
tax or assessment, with the costs, additions and charges, within the
period stated in such advertisement, then the county treasurer shall,
without further notice, commence the sale of lands specified in such
notice of sale on the day set for that purpose and continue the sale
from day to day until every such lot or parcel is sold. Such lands shall
be sold for an amount sufficient to pay all the taxes and assessments
due thereon for the years for the taxes of which said sale shall be made
with interest thereon to the time of sale, and all costs, expenses and
charges accrued thereon and, subject to reductions as herein provided,
said amount paid for such property shall carry and bear the maximum
interest and penalties as follows: six per centum on the purchase price,
if redeemed within six months of date of sale. An additional six per
centum on the purchase price if redeemed after the expiration of six
months and within twelve months of the date of sale. An additional six
per centum on the purchase price if redeemed after the expiration of
twelve months and within a period of eighteen months of date of sale. An
additional six per centum on the purchase price if redeemed after the
expiration of eighteen months and within a period of twenty-four months
of date of sale. An additional six per centum on the purchase price if
redeemed after the expiration of twenty-four months and within a period
of thirty months of date of sale. An additional six per centum on the
purchase price if redeemed after the expiration of thirty months and
within thirty-six months of date of sale. The rate of interest at which
any person or persons shall offer to take the lot or parcel of land to
be sold shall be established by his bid. The rate thus established shall
be the rate of interest for every period of six months or fraction
thereof up to the time of the redemption of the property purchased until
the expiration of three years, plus all taxes paid by the purchaser with
interest thereon at six per centum per annum to the date of payment. At
such sale, rates of interest shall be bid in multiples of one per centum
or a flat bid of no interest whatsoever and parcels shall be sold and
bid upon separately. If more than one person bids the same rate of
interest, the county treasurer or person conducting such sale shall sell
the parcel to whichever of such bidders as he in his sole discretion
shall determine. In any case, however, and as to any parcel, the county
may reject any and all bids and bid in and purchase the same for the
county at a rate of interest as shall be established by resolution of
the county legislature, but not to exceed the maximum rate of interest
as herein provided in which event the bid of the county shall be
preferred over all other bids. The county shall likewise be deemed the
purchaser at the rate of interest as herein provided for of all parcels
which are not sold at sale. The county legislature may by resolution
exclude from such sale such parcels as it determines where the county
has entered into any agreement concerning the disposition of tax liens
thereon with a tax district or other person pursuant to section one
hundred sixty-six-a of the tax law or other provisions of law. The
foregoing rates of interest shall be applied whenever those rates are
greater than the rates of interest as established in section thirteen-c
of this tax act.