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NEW ORLEANS — Today, the City of New Orleans 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 be active Tuesday, July 21, through Thursday, July 23, 2020.
The City is actively working to provide support for all New Orleanians, from families to businesses, to aid them in the financial recovery from the COVID-19 pandemic. As the City continues forward with the safe, phased reopening of New Orleans, City finances also need to be stabilized, and collection of overdue revenue is crucial to that effort.
More than 1,300 properties with taxes due Jan. 31, 2019 or older, 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.
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 three-year redemptive window in which to pay the investor the delinquent amount, an immediate 5 percent penalty plus an additional 1 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 title holder can pursue the property’s title.
This auction can be viewed on the 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 may 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, due to COVID-19 restrictions you may pay online until the sale begins on July 21. On the days of the sale, July 21 through 23, please visit the Treasury Bureau on the first floor of City Hall on weekdays from 8 a.m. to 5 p.m. during the sale period. Only cashier’s checks or official checks will be accepted.
For questions or assistance, prospective bidders should call CivicSource at 1-888-387-8033 or email support@civicsource.com.
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