Today, the City announced it will hold an online tax certificate sale as part of its continuing efforts to collect delinquent real estate taxes. The online auction will start today,
Over 1,700 properties are scheduled to go to sale in the auction, which is open to the general public. Free registration and a list of available properties are available at www.CivicSource.com external link.
“The City remains committed to collecting delinquent real estate taxes,” said Mayor
A tax certificate sale is the sale of properties that have delinquent taxes due. Investors purchase the tax sale certificate by paying the amount of outstanding delinquent taxes and other statutory impositions. Property owners have a 3-year redemptive window in which to pay the investor the delinquent amount, an immediate five percent penalty plus an additional one percent for every month since the filing of the tax certificate.
Winning bidders of the tax sale are expected to pay for their purchases within 48 hours of the close of the auction. Payments must be made in one installment and all sales are final. However, winning bidders do not immediately own the property. The property owner can redeem the property by repaying the purchaser plus penalties and interest. If the property is not redeemed within three years (or 18 months for blighted properties), the tax title holder can pursue the property's title.
This auction can be viewed on www.civicsource.com external link external link. Using the search options, prospective bidders can set the parameters for any property that falls within their interests and budget.
Individuals without immediate access to a computer can participate in the auction via kiosks that will be set up on the first floor of
For property owners who would like to make a payment to remove their property from the sale, please visit the
For questions or assistance, prospective bidders should call CivicSource at 1-888-387-8033 or email firstname.lastname@example.org.