More than 2,600 properties are scheduled to go to sale in the auction
The City of New Orleans will hold an online tax title sale this week as part of its continuing effort to collect delinquent real estate taxes. The online auction will take place Tuesday through Thursday from 8 a.m. to 8 p.m.
More than 2,600 properties 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.
"As we continue our aggressive tax collection, we are working to recover taxpayer dollars through every means available to us," Mayor Mitch Landrieu said. "We are committed to collecting the revenues that we are owed and getting these properties back on the tax rolls."
A tax title sale is the sale of delinquent taxes on a real estate property tax title. This sale is for delinquent taxes for the years 2010, 2011 and 2012.
The tax titles for these properties will be sold to the public for the amount of the delinquent taxes due, plus any accrued interest, penalties, costs and other statutory impositions. This is a "low bid wins"-style auction, in which the property is sold to the purchaser willing to accept the lowest percentage of ownership interest in the property.
However, winning bidders do not immediately own the property. The property's owner can redeem it 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 then can seek to acquire the property's title.
Winning bidders at the tax sale are expected to pay for their purchases within 72 hours after the auction. Payments must be made in one installment, and all sales are final
The auction can be viewed on www.CivicSource.com. Using the search options, prospective bidders can look for any property that falls within their interests and budget.
Individuals without immediate access to a computer can participate in the auction at kiosks that will be set up on the first floor of City Hall, 1300 Perdido St., during normal business hours on auction days.
Property owners who would like to make a payment to remove their property from the sale should visit the Treasury Bureau on the first floor of City Hall on weekdays from 8 a.m. to 5 p.m. before or during the tax sale. Only cash, cashier's checks or official checks will be accepted.
For questions or assistance, prospective bidders should call Civic Source at 888-387-8033 or email support@civicsource.com.