Bill > S08381

This bill authorizes the village of Bloomingburg to sell or use as loan collateral its delinquent tax liens (unpaid property tax debts) to or through a private party, with several key protections and conditions. The bill allows the village to sell tax liens for more or less than their face value, requires property owners to receive at least 30 days' notice before a sale, and gives the village the option to repurchase liens before foreclosure. If a tax lien is sold, the original redemption period and interest rate remain unchanged, and the purchaser can foreclose on the property after the redemption period expires using standard mortgage foreclosure procedures. The bill also permits the village to pledge tax liens as loan collateral or hire a third party to collect the liens, with the collection fee limited to 10% of the outstanding balance and chargeable to the delinquent taxpayer. The collection fee and loan interest rate would be determined by the village. These provisions are intended to provide the village with more flexibility in managing and recovering delinquent tax debts while maintaining protections for property owners.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8381