I. Council Action Requested.
Title
To find that public benefit is derived by not offering for sale the property identified as tax account S8529R pursuant to the Policy on Tax Acquired Property and allow the previous assessed owner to regain title to the property by entering into an agreement to pay the remaining 2025 taxes, interest, and costs owed thereon.
Body
II. Basis for Council Action.
Council approval of this item is required because;
a. The Town has the ability to “sell, lease, mortgage, hold, manage and control such property as its interest may “require”,
b. The Town Council has the authority under Article II, Section 3 (I) of the Charter to [e]xercise all the legislative, financial, borrowing and other powers now or hereafter given by statute to inhabitants of towns acting in Town Meeting except as otherwise provided herein, and
c. Article 1, Section 1.4 of the Policy of the Disposition of Tax-Acquired Property states that any release of the Town’s interest pursuant to this policy is at the sole discretion of the Town Council.
III. Issue Summary.
Heirs to the previous property owner, who had a payment arrangement, had paid the majority of taxes due and only had a remaining balance of $365. They presented payment in full for all taxes due, and the account now has a credit balance.