The town of Golden Meadow will host their annual tax sale online at CivicSource.com from 8 a.m. to 8 p.m. Tuesday, July 23, subject to a sliding close.
Over 15 properties are slated for auction, ranging from $349 to $4,540. The sale is open to the public. Registration is free.
The auction price is fixed at tax, interest, costs and other impositions due, so instead of competitive price bidding, ownership interest in property is bid down.
The winning bid is the least percent ownership bid on any property. Winning bidders receive tax title certificates, an interest-bearing investment returning five percent and one percent per month until paid. If not repaid within three years, the purchaser receives property ownership in the amount equal to percent bid at auction, subject to the taxes being paid.
For a complete listing of properties slated for the 2019 tax sale, visit wwww.CivicSource.com/TownofGoldenMeadow.
Original article found here: https://www.dailycomet.com/news/20190709/golden-meadow-tax-sale-scheduled-for-july-23