AG James calls on city pols to reform tax lien sales
New York Attorney General Letitia James this week called on New York City Mayor Bill de Blasio and New York City Council Speaker Corey Johnson to enact permanent, meaningful reform to the tax lien sale.
The authorizing legislation allowing the city to conduct the lien sale expires on Dec. 31, 2020, providing an opportunity for significant reform. In a letter to Mayor de Blasio and Speaker Johnson, Attorney General James urged New York City to utilize community land trusts and land banks for delinquent properties, ensuring residents can stay in their homes.
Every year, the New York City Department of Finance (DOF) holds a tax lien sale, through which the tax liens on properties for unpaid property taxes and water bills are sold off in an auction.