Mayor Bill de Blasio and Department of Finance Commissioner Jacques Jiha announced today the postponement of the annual tax lien sale until September 2020, as the city continues its recovery from the COVID-19 pandemic.
“We must build a fair and equitable recovery for the working people of our city,” said Mayor Bill de Blasio. “Postponing the lien sale will give some relief to those struggling to make ends meet, and more time for New Yorkers to apply for our hardship programs.”
“While New York City begins to rebound from the effects of COVID-19, many property owners continue to face serious financial challenges from the effect of the virus,” said Department of Finance Commissioner Jacques Jiha. “Postponing the sale allows property owners to better assess their situations and to apply for assistance or a payment plan, if necessary.”
The lien sale is administered by the NYC Department of Finance, which sells overdue property taxes, water and sewer charges, and other property charges to a non-profit trust. The agency sends out four warning notices to property owners starting three months prior to the sale, alerting them that the property is at risk of being on the lien sale list. More than 80 percent of owners pay the full amount owed, enter into payment plans, or obtain an exemption that removes them from the at-risk pool. DOF also advertises at risk properties and conducts extensive outreach to property owners at risk of having their liens sold, often partnering with community groups and elected officials to reach as many property owners as possible.
The sale was originally scheduled to occur in May 2020, but it was previously postponed until August 2020 as the City focused its efforts on the COVID-19 outbreak.
Property owners who are facing hardships making their property tax payments can take advantage of several existing DOF programs. These include exemption programs to lower the amount of taxes owed, standard payment plans, or a new Property Tax and Interest Deferral (PT AID) program, for those who qualify. DOF also provides a monthly property tax billing service to facilitate budgeting for property owners billed on a quarterly or semi-annual basis. More information on those programs can be found on the agency’s website.
