There are nearly 2,000 buildings in southern Brooklyn on the City’s tax lien sale list — 1,410 of which are small, family homes, according to the Center for New York City Neighborhoods (CNYCN).
The City’s Department of Finance sells tax liens [the legal right to a property until a debt on that property has been discharged] on buildings if owners have not responded to at least four notices or entered into some sort of a payment plan. This year’s sale takes place on May 12.
The liens are sold to third-party collection agencies, who “can add fees and high interest of up to 18 percent, compounded daily,” the CNYCN said. And this can place a homeowner at greater risk of foreclosure because of “mounting debt.”
Just over 13,000 1 to 4 family buildings are on the sale list across the five boroughs, the CNYCN reported. Almost half of those buildings — 43 percent — are in Brooklyn.
The group notes that households can still get off the City’s tax lien sale list by entering into a payment agreement or securing some sort of an exemption.
Buildings Currently On City’s 90-Day Sale List 1-4 Family Buildings
Council District 48 (Chaim Deutsch): 231 141
Council District 47 (Mark Treyger): 296 191
Council District 44 (David Greenfield): 449 293
Council District 46 (Alan Maisel): 777 647
Council District 43 (Vincent Gentile): 199 133
TOTAL 1,952 1,410
[Additional reporting by Alex Ellefson]