Tax Liens

2 Replies

Hello to All,

I live in New York. I know a little bit about tax liens, but I would like to have a better understanding and maybe some advice on where to start. If anyone has any info I would greatly appreciate it.

Thank you :)

New York is a hybrid state with both tax lien certificate and tax deed auctions. In addition to the counties, other municipalities (city, borrow, villages, etc.) can hold tax auction. Bidding rules and procedures can vary from one municipality to another. Verify the auction rules and processes carefully with each taxing entity.

Tax Liens Auctions:

The annual New York tax lien certificate auctions are held at various times during the year dependent upon the taxing entity. All of the New York tax lien certificate auctions are held on location. The bidding method is a bidding down of the interest rate starting at 10% and can go down to 0%. These tax liens come with a 2 year redemption period starting from the date of auction.

Tax Deed Auctions:

New York tax deed auctions are held at various times during the year dependent upon the taxing entity. Most of the New York tax deed auctions are held on location while a few are conducted online. Some counties will accept written bids. The bidding method is highest bidders wins. Unsold tax deed properties may be purchased after the auction dependent upon the taxing entity.

Wow that was awesome. Thank you for the info very very helpful. 

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