Maplewood Tax Lien Sale: Dozens Of Local Homes At Risk

MAPLEWOOD, NJ — The buyers and sellers of debt will cast their eyes to Maplewood on Monday, Sept. 25, when the township holds an online public auction for unpaid tax liens on local properties.

According to a municipal notice, town officials will conduct an online public auction of several outstanding tax liens on Maplewood homes. The list of properties with liens up for auction can be seen here, and includes many with $300 of outstanding debt or less.

Read the municipal notice about the Maplewood auction here.

New Jersey law requires all 566 municipalities to hold at least one tax sale per year if the municipality has delinquent property taxes and/or municipal charges.

Winning bidders must immediately pay municipalities the outstanding taxes and interest. In exchange, they get a tax sale certificate which they can ultimately use to foreclose on the property and take ownership after a lengthy process.

Learn more about tax lien sales in New Jersey here.

Critics of the tax lien sale process have alleged that they are vulnerable to being taken over by “monopolizing” interests.

In 2016, the State of New Jersey Commission of Investigation issued a report that stated a private vendor “selected under unusual circumstances” has effectively monopolized online lien auctions on a statewide scale.

“Arranged without competitive bidding, the deal has enabled this vendor and a partner company to collect hundreds of thousands of dollars in fees on an annual basis – a revenue stream that is rising as more and more local governments elect to participate in internet-based lien auctions,” the report stated.

Don’t forget to visit the Patch Maplewood Facebook page here.

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Patch file photo