FOR IMMEDIATE RELEASE
April 7, 2004
MAYOR MICHAEL R. BLOOMBERG SIGNS LEGISLATION ALLOWING THE CITY TO SELL TAX LIENS
Remarks by Mayor Bloomberg at a Public Hearing on Local Law
“The bill before me today is Introductory No. 302, sponsored by the Chair of the Finance Committee, Council Member David Weprin. This bill authorizes the Commissioner of Finance, on behalf of the city, to conduct the sale of tax liens through March 1, 2006.
“The sale of tax liens in New York City began in 1996 and has been conducted annually on delinquent property taxes and property-related charges. Since the City instituted the sale of tax liens, the Finance Department has collected more than $1.7 billion in delinquent charges through lien sales. In 2003, the Finance Department collected $86 million through the sale of tax liens. Just as important, the Finance Department collected $80 million during the 60-day noticing period that preceded the lien sale, thanks to an unprecedented outreach campaign conducted by the Finance Department, the Department of Environmental Protection, and several City Council Members. It is always our goal to collect outstanding tax debt through voluntary payments rather than by selling liens.
Edward Skyler / Jordan Barowitz (212) 788-2958
Watch bill signing in 56k or 300k