NEW ORLEANS, LA — Today, the City announced it will hold an online tax title sale. The auction will take place September 25-27, 2012 from 8 a.m. - 8 p.m.
This auction contains more than 4,700 properties scheduled to go to sale. The tax sale is open to the general public. Free registration and a list of available properties are available at www.CivicSource.com.
“We continue our aggressive tax collection plan to recover taxpayer dollars through the use of online efforts,” said Mayor Mitch Landrieu. “We are using every means available to us to collect the revenue that we are owed.”
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 2009, 2010 and 2011. 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. Payment 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. Using the search options, 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 any time before or during the tax sale period. Only cash, cashier’s check or official check will be accepted.
For any additional information, citizens can call Civic Source at 1-888-387-8027 or go to www.CivicSource.com.