Nassau County New York Annual Tax Lien Sale

Annual Tax Lien Sale
The 2007 Annual Tax Lien Sale will be held beginning Tuesday February 19, 2008 and run through Friday February 22, 2008. The sale will take place at the Legislative Chamber, fifth floor, Nassau County Executive Building, 1 West Street, Minneola, N.Y. The sale will begin promptly at 9:00am for daily registrations. Pre-auction registration information is available on this site or by calling the Tax Sale Department at 516-571-5023.
Any prospective bidder wishing to purchase a listing of Liens to be sold can purchase said list for $150. All checks should be made payable to the Nassau County Treasurer and mailed to the attention of Greg Falling at Nassau County Treasurer 240 Old Country Road, Minneola, and N.Y. 11501. The listing will be made available approximately six (6) weeks prior to the scheduled lien sale.
Notice To Tax Lien Purchasers
The following amendments to the Nassau County Administrative Code have taken affect with the February 2001 tax sale.
1. Sec. 5-44.0 of the NC Administrative Code requires the charging of a $100.00 per day registration fee for each person who intends to bid at the tax lien sale.
2. Sec. 5-39.0(b) "For tax liens purchased in 2001 & thereafter, the rate of interest payable by the property owner…shall be the maximum rate as set forth in section 5.40.0." That section states that the maximum interest & penalties which a tax lien may carry is 10% of the purchase price for each 6 month period starting with the date of tax sale through the end of the 24th month.
The portion of the 10% interest for each lien sold that is owed to Nassau County will be called the "Differential Lien." The "Differential Lien" will be included in all redemption payments.
The "Differential Lien" must be paid separately to Nassau County 1) by the Tax Sale Buyer as part of his tax deed application or 2) by the property owners when a Tax Sale Buyer surrenders his lien for cancellation.
Purchase of Lien:
The lien you have purchased must be fully paid for within thirty days of the date of the lien sale. You will be notified by the County Treasurer's Office by regular first class mail within 10 days of the due date. Failure to pay the ninety percent when due will result in automatic loss of the lien plus your total down payment, which consists of the required ten percent down payment (rounded up to the nearest dollar) together with any additional sum provided with that required down payment. Requests for extensions of time to pay the ninety- percent balance will not be considered.
Redemption:
All liens purchased at the 2007 sale may be redeemed by the property owner or interested party at any time prior to either the Treasurer's issuance of a tax deed or the commencement of a foreclosure action in court. Neither of these events can occur before February 19, 2010 at the earliest. All redemption payments will be charged the total interest rate due at the time of payment. The County Treasurer will pay you the appropriate interest for your lien paid by the property owner or interested party. The interest collected will be in accordance with the provisions of the Nassau County Administrative Code which call for the same rate as bid at sale for the first twenty-four month period calculated at six-month intervals beginning February 19, 2008. In cases of one-year hardship extensions, interest on the lien for the 25th month through the 36th month will be at five percent per six-month period of time.

Notice to Redeem
When serving Notices to Redeem, the Office of the County Treasurer will insist on strict compliance with all applicable sections of the Nassau County Administrative Code. Copies of the Code and the recent amendments thereto, are available at the Office of the Clerk of the County Legislature, located on the first floor of the County Executive Building, One West Street, Minneola, New York.

$150 just for a list of the properties? .Wow!

$100 PER DAY registration fee? Again, WOW!

That should weed out the "looky-lous"....

That’s not all,
New law on the books, because the powers that be were having a hard time explaining how some little old ladies were losing there home to lawyers that took them for pennies. so the law now stands that when you foreclose you do not get the home, you get your money plus interest, but now you have to bid on it, and the home/land owner get what’s left, I know that is the way in some counties, it remains to be seen how it will work out in the future. The L.I. Free Press prints a list. First time I’ve picked up that paper, it also prints a divorce notice for someone in Anchorage Alaska. Last but not least there are an awful lot of families on L.I. in trouble, its sad you work all your life for a home to lose it to the tax man.