City To Hold Online Tax Certificate Sale
NEW ORLEANS – 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 take place beginning Tuesday, April 12 and ending Thursday, April 14, 2016.
More than 3,900 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
“As we continue our aggressive tax collection, we are working to recover taxpayer dollars through every means available to us,” said Mayor Mitch Landrieu. “We’re committed to collecting the revenues that we are owed and getting these properties back on the tax rolls. The success of previous annual sales should attract even more investors and give potential bidders confidence in the process.”
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 titleholder can pursue the property’s title.
This auction can be viewed on www.CivicSource.com. 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 City Hall during normal business hours on auction days.
For property owners who would like to make a payment to remove their property from the sale, please visit the Treasury Bureau on the first floor of City Hall on weekdays from 8 a.m. to 5 p.m. before or during the tax sale period. Only cash, cashier’s checks or official checks will be accepted.