New Orleans properties that have delinquent taxes due are scheduled to go to sale in an online auction.
A tax certificate sale for over 1,300 properties will be active Tuesday through Thursday at civicsource.com, according to a news release from the city. The auction is also available via kiosks on the first floor of City Hall on auction days.
Investors purchase the tax sale certificate by paying the amount of outstanding delinquent taxes and other statutory impositions. Property owners have a three-year redemptive window in which to pay the investor the delinquent amount, an immediate 5% penalty plus an additional one percent for every month since the filing of the tax certificate.
Winning bidders are expected to pay for their purchases within 48 hours of the close of the auction, a news release said. 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.
Property owners who want to make a payment to remove their property from the auction should visit the Treasury Bureau on the first floor of City Hall before or during the tax sale, the news release said.
Original article found here: https://neworleanscitybusiness.com/blog/2019/08/09/city-to-put-over-1300-properties-with-delinquent-taxes-up-for-sale/