Properties transferred to the borough are held by the borough for at least one year. During the redemption period a party having an interest in the property may redeem it by paying the lien amount plus penalties, interest and costs, including all costs incurred under KGBC 4.45.530(a). Property redeemed is subject to all accrued taxes, assessments, liens and claims as though it had continued in private ownership. Only the amount applicable under the judgment and decree must be paid in order to redeem the property. [Ord. No. 558, §31, 2-18-86. Code 1974 §45.13.060.]