§ 44-53-10 - Appraised value of seized property.
SECTION 44-53-10
§ 44-53-10 Appraised value of seizedproperty. – (a) If the tax administrator determines that any property seized is liable toperish or become greatly reduced in price or value, or that the property cannotbe kept without great expense, the tax administrator shall appraise the valueof the property and, if the owner of the property can be readily found, shallgive the owner notice of the determination of the appraised value of theproperty. The property shall be returned to the owner if, within the timespecified in the notice, the owner either pays to the tax administrator anamount equal to the appraised value, or gives bond in a form, with thesureties, and in an amount as the tax administrator shall prescribe, to pay theappraised amount at the time the tax administrator determines to be appropriatein the circumstances.
(b) If the owner does not pay the amount or furnish the bondin accordance with this section, the tax administrator shall as soon aspracticable make public sale of the property in accordance with regulationsthat may be prescribed by the tax administrator.