New Orleans to hold its first online tax sale
Update: Next NOLA tax sale Dec. 12. Still a lot left.
Get ready for the next round.
2,500 properties go on block Monday
Saturday, November 24, 2007
By Gordon Russell
New Orleans officials announced they will hold the city's first online tax sale Monday at 8 a.m. The sale is scheduled to wrap up Wednesday at 8 p.m. unless the roughly 2,500 properties on the list are sold before that.
Tax sales are used as a means for public entities in Louisiana to collect property taxes that are deemed delinquent. To purchase a property at a tax sale, a buyer must pay all delinquent taxes, plus penalties and interest.
Officials in Mayor Ray Nagin's administration said the city is only selling properties that have tax delinquencies dating to 2005 or earlier. In other words, properties that did not have outstanding taxes at the time of Hurricane Katrina will not be sold.
Those who wish to participate in the online auction must register first at http://www.neworleanstaxsale.com. Visitors to that Web site may search the database for tax-delinquent properties immediately.
A tax sale resembles an auction, but there is no bidding as such. The first person who indicates they'll pay the taxes, penalties and interest on a particular property is the winning bidder.
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New Orleans, Louisiana, United States