DOF Delays Tax Lien Sale Until Sept. 25

The DOF recently announced another postponement of the annual tax lien sale until Sept. 25, 2020, to give New Yorkers additional time to pay debt or enter into payment plans. The lien sale is administered by the NYC Department of Finance, which sells overdue property taxes, water and sewer charges, and other property charges to a non-profit trust.

The agency sends out four warning notices to property owners starting three months prior to the sale, alerting them that the property is at risk of being on the lien sale list. More than 80 percent of owners pay the full amount owed, enter into payment plans, or obtain an exemption that removes them from the at-risk pool. The sale was originally scheduled to occur in May 2020, but it was previously postponed until Sept. 4, as the city focused its efforts on the COVID-19 outbreak.

Owners who are facing hardships making their property tax payments can take advantage of several existing DOF programs. These include exemption programs to lower the amount of taxes owed, standard payment plans, or a new Property Tax and Interest Deferral (PT AID) program, for those who qualify. DOF also provides a monthly property tax billing service to facilitate budgeting for property owners billed on a quarterly or semi-annual basis. More information on lien sales and DOF programs can be found by clicking here.