NEW ORLEANS, LA – September 9, 2013 – (RealEstateRama) — Today, the City announced it will hold an online tax title sale as part of its continuing efforts to collect delinquent real estate taxes. The online auction will take place September 10-12, 2013 from 8 a.m. to 8 p.m.
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More than 2,600 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.
“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 are committed to collecting the revenues that we are owed and getting these properties back on the tax rolls.”
A tax title sale is the sale of delinquent taxes on a real estate property tax title. This tax sale is for delinquent taxes for the years 2010, 2011 and 2012. The tax titles for these properties are sold to the public for the amount of the delinquent taxes due plus any accrued interest, penalties, costs and other statutory impositions. The tax title sale is a “low-bid wins” style auction in which the property is sold to the purchaser willing to bid on the least percent ownership interest in the property.
Winning bidders of the tax sale are expected to pay for their purchases within 72 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. 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.
For questions or assistance, prospective bidders should call Civic Source at 1-888-387-8033 or email support (at) civicsource (dot) com.
