§ 26-37-302 - Payment required.
26-37-302. Payment required.
(a) In order to redeem, whether with the county collector or the Commissioner of State Lands, and in order to purchase at the Commissioner's sale, the redeemer or purchaser of tax-delinquent land shall pay all delinquent taxes, plus:
(1) Ten percent (10%) simple interest for each year of delinquency;
(2) A ten percent (10%) penalty for each year of the delinquency; and
(3) The costs incurred by the county and the Commissioner of State Lands.
(b) The penalties and interest shall accrue beginning on October 11 in the year of delinquency.