If a property is delinquent in property tax payments for more than one year, it will go to what is called a Tax Sale.
The Tax Office sends out delinquent notices four times a year. One notice announces the actual Tax Sale.
In a Tax Sale, the Municipality does not sell the delinquent property, but sells Liens on the property. The liens represent the unpaid taxes and are put out to bid with payback interest rates starting at 18% and decreasing to 1%. A person who buys a property lien pays the City the amount of the delinquent taxes. That lien holder can then legally collect payment from the property owner, at the interest rate of the lien. This process can be costly to a homeowner and if not taken seriously the home can become subject to foreclosure by the lien holder.
A 6% year-end Penalty is also added for all subsequent payments made by a Lien holder in a year that totals $10,000.00 or more.
If a property is more than a year in delinquency, and the owner has a court ordered bankruptcy in place, the property is then excused from Tax Sale. However, property taxes are still billed and due, and must be paid.
Paying taxes when due can help keep the Woodbury tax rate level. Unpaid taxes create a serious financial problem for the City.
Next Tax Sale
June 12, 2013 – 10am
City of Woodbury
33 Delaware St., Woodbury
Council Chambers 2nd Floor
Information: Lorraine Reeves, Certified Tax Collector
856.845.1300 ext 119 or LReeves@woodbury.nj.us
You may obtain a copy of the original advertisement by clicking below, or mail a self-addressed stamped envelope to have a list mailed to you. No changes will be made to the original newspaper advertisement or the website after publication of the tax sale list.