May 5, 2016 |
The State of New Jersey has permitted a single contractor to dominate the marketplace for online tax-lien auctions without requiring competitive bidding or conducting any meaningful oversight, an independent investigation has found. The vendor and its partner reaped $1.7 million from municipalities to conduct the sales in 2014 and 2015 alone, a revenue stream that is projected to grow, according to a report released Tuesday by the State Commission of Investigation. Every municipality in New Jersey is required to conduct a sale at least once a year to try to "recoup the value of liens filed for delinquent property taxes and for unpaid fees involving municipal services such as water/sewer and garbage collection," the report said.
July 1, 2015 |
Philadelphia wrapped up its online tax-lien auction Monday. Details of the sale, which started Wednesday with a list of 911 liens worth $6.5 million, will be made public Tuesday, city spokesman Mark McDonald said. Revenue Commissioner Clarena Tolson and her office "want to analyze and review the data" first, McDonald said. More than 150 investors were registered to participate in the online auction of the liens on tax-delinquent properties. The city required a minimum bid of the full delinquent property-tax bill plus interest.
June 19, 2015
RYAN BRIGGS' article on the city's vacant lot problem displayed little understanding of how the Sheriff's Office functions. He used outdated information to form erroneous conclusions. At no time did he call our office to obtain the facts. He assumed that the Sheriff's Office chooses the properties put up for foreclosure or tax sale. Properties are placed in sheriff's sales by the city for delinquent taxes or a mortgage lender seeking foreclosure. The sheriff is an arm of the court system who conducts the sales according to law and has no part in the selection process.
December 13, 2014 |
ATLANTIC CITY - A city tax lien sale brought faltering Atlantic City some pre-Christmas cheer Thursday - a $22 million tax bill from bankrupt Trump Plaza and Taj Mahal will be paid - but also some coal: Nobody bid on a $32.5 million unpaid tax bill from Revel. "I'm concerned," said the city's revenue director, Michael Stinson, after the four-hour sale, with a total of nearly $59 million in owed taxes on 1,000 properties, yielded at most half of that. Stinson said the tax sale plus an imminent $40 million note sale should be enough to get the city over the immediate 2014 budgetary crisis.
May 14, 2013 |
Sun and water go hand in hand, and for many South Jersey families summer is all about waves, sand, and a boardwalk. But for thousands the cool wet stuff has a whiff of chlorine - and it's just around the corner, at a neighborhood swim club. Memorial Day weekend marks the start of pool season for most of the 45 clubs dotting Gloucester, Camden and Burlington Counties, nearly all of them nonprofit associations where preparations are already under way. At clubs with such names as Sunnybrook, Pomona, Pheasant Run and Barclay Farm, members can be found this weekend and next scraping the hot dog grills, repainting the race lane markers, and setting up umbrellas and chaises.
May 10, 2013 |
For the second time in three years, the historic Nile Swim Club in Yeadon was set to be sold in a tax sale, and for the second time in three years, a last-minute reprieve saved the club. In 2010, a bankruptcy filing staved off creditors. In December, a deed mix-up halted the scheduled sale. Then last month, a trio of baby boomers who grew up at the nation's first African American-owned private swim club took over the Nile's leadership. The group is planning a business-oriented strategy that it hopes will put an end to the financial troubles that have crippled the 54-year-old club, founded because a nearby pool admitted whites only.
April 10, 2013
Cherry Hill has agreed to put on hold its motion to force a tax sale of Woodcrest Country Club pending an auction arranged by a bankruptcy trustee. Township solicitor Robert Wright said at a hearing Tuesday in U.S. Bankruptcy Court in Camden that it was in the township's best interests for the May 20 auction to move forward, with proceeds used to pay Cherry Hill $160,000 it says it is owed in taxes. Cherry Hill Land Associates, a subsidiary of First Montgomery Group of Marlton, has agreed to buy the 155-acre property for $6.25 million.
March 23, 2013 |
A bankruptcy trustee has entered into an agreement with a Marlton real estate group to buy the Woodcrest Country Club for $6.25 million, according to a motion filed Friday. The agreement reached by trustee Bonnie Glantz Fatell and Cherry Hill Land Associates L.L.C., a subsidiary of First Montgomery Group AMO, will be subject to better bids for the Cherry Hill golf club, according to Fatell's motion, which proposes terms for an auction to be held May 20. A hearing on the motion is scheduled for April 1 in U.S. Bankruptcy Court in Camden.
March 22, 2013 |
Correction: This story was corrected to clarify the sale is for a tax note, not the property. Cherry Hill Township says the bankrupt Woodcrest Country Club has more than $161,000 in property taxes owed or coming due and is asking a court to allow a tax sale. In papers filed with the U.S. Bankruptcy Court in Camden, the township is asking Judge Judith Wizmur to lift an automatic stay barring such a sale. The township said the country club owes $106,000 in real estate taxes for the two most recent quarters and has an additional $53,200 due May 1. Cherry Hill said the club also owes $3,100 in sewer charges.
March 12, 2013
Rats, fleas, and roaches thrive in the city's abandoned, tax-delinquent properties. Often loaded with garbage inside and out, the structures are more prone to fires than occupied buildings. They harbor drug dealers and their stashes. And they soak up precious city resources, such as the taxpayer money ultimately required to demolish the most dangerous of them. Beyond their extensive costs to public health and safety, these properties rob the city of millions in tax dollars that could be used to improve city services and help the drowning School District.