July 31st, 2017
NEW ORLEANS (WVUE) –
The City of New Orleans will make more than 185 properties in the parish available for auction starting Tuesday. It’s part of the city’s push to reduce blight and bring vacant properties back into commerce.
When property taxes are not paid and become delinquent, the city holds tax sales for these properties. Unsold properties at a tax sale are adjudicated to the City of New Orleans. After three years, the city can offer the full title of these properties for sale at auction.
The properties were previously offered in tax sales with no bidders and have reached the three-year threshold. The properties will now be offered with full titles.
According to a release from the city, it has returned 770 properties to commerce and brought in over $14.5 million through its adjudicated property auction program. Additionally, 89 adjudicated properties were redeemed by homeowners returning $2.8 million in delinquent taxes to the City. The adjudicated properties that have failed to sell at a previous tax sale are now being offered to investors at a starting bid of the property’s closing costs. All properties come with full ownership and title insurance.
Here’s how the process works.Investors can nominate these properties for auction, along with any of the 900 properties currently listed, by placing an $850 deposit at CivicSource.com.
Once legal compliance work is completed, nominated properties will be scheduled for the next available auction, which takes place online the first Wednesday of each month. Current owners of adjudicated properties will be notified as the auction draws near so they can choose to pay taxes and fees owed on a property to cancel the sale.
The City and CivicSource will host a series of community information sessions during the month of August to provide comprehensive training on all aspects of purchasing adjudicated property with title insurance. The events are free and open to the public. To RSVP for any of the following information sessions, please visit events.CivicSource.com.
• Tuesday, August 1 at 6:30 p.m.
Propeller Incubator – 4035 Washington Ave., New Orleans, LA 70125
• Wednesday, August 2 at 6:30 p.m.
New Orleans Public Library – 219 Loyola Ave., New Orleans, LA 70112
• Tuesday, August 22 at 6:30 p.m.
This session will be in both English and Spanish
Mid-City Library – 4140 Canal St., New Orleans, LA 70119
For more details you can log on to the City of New Orleans’ website at www.nola.gov
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