Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Thursday, November 16, 2000

Release #435-00

 
Contact:

Sunny Mindel / Michael Anton (212) 788-2958

MAYOR GIULIANI SIGNS BILL EXTENDING AUTHORITY
TO SELL TAX LIENS FOR ONE YEAR

Remarks by Mayor Rudolph W. Giuliani at Public Hearing on Local Laws

The first bill before me today is Introductory Number 826, sponsored at my request, by Council Member Berman. This bill would extend the authority of the Commissioner of Finance to sell tax liens for one year, through and including October 31, 2001. This bill will be retroactive to November 1, 2000.

Since the implementation of the tax lien sales program in 1996, there have been six tax lien sales that have raised approximately $1.1 billion and resulted in a 36 percent reduction in the City's real property tax delinquency. Overall, this tax lien extender will be extremely beneficial to the City of New York.

For the reasons previously stated, I will now sign the bill.

 

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