For Immediate Release: xxxxx
Contact: Jovana Rizzo, 646-200-5329, jovana@berlinrosen.com; Cristian Salazar, 646-796-0898, cristian.salazar@cnycn.org

Center for NYC Neighborhoods Launches Tracker To Alert Homeowners To Tax Lien Sale

Interactive map at cnycn.org/NYC-tax-lien-sale allows communities and stakeholders to assess the impact on their neighborhoods, help neighbors get off the sale list

NEW YORK, NY – The Center for NYC Neighborhoods today announced its new web-based tracker of the NYC Department of Finance’s 90-day lien sale list with 2016 data on one-to-four family homes. The tracker can be found at: http://blog.cnycn.org/NYC-tax-lien-sale

Each year, the Department of Finance sells the liens of properties that have unpaid debts – including property taxes, water bills and other charges — which can result in an increased financial burden for families already behind on their bills. The Department of Finance sells liens when owners fail to respond to notices or to enter into a payment plan with the City.

The Center’s tax lien tracker shows users how many households in each ZIP Code, Community District and City Council District have liens that are currently scheduled to be sold. This year, 24,202 properties are on the 90-day list, including 15,033 small homes (one-to-four families), condos, and co-ops.

The tracker will be updated at the 60- and 30-day marks before the Department of Finance’s annual sale scheduled for May 12, 2016.

Once a tax lien is sold, a third-party collection agency can add fees and interest of up to 18%, compounded daily, on top of the debt. Mounting debts on unpaid tax liens may eventually lead to foreclosure. The Department of Finance sends five notices to homes at risk before the sale and hosts outreach events across the city.

Seniors, disabled individuals, or veterans, relatives of veterans, or active-duty military personnel, may qualify for an exemption by submitting the Exemption Eligibility Checklist or Military Request for Relief available on the Department of Finance website by May 2. All others can enter into a payment plan of up to ten years with the City. Payment plans with the City are more affordable than payment plans with a collection agency. All terms of the payment agreements with the City must be finalized by May 11. Personal exemptions are also available to help lower taxes owed, but owners will need to apply for these by March 15 for the coming tax year that begins July 1, 2016.

Homeowners seeking help to obtain a payment agreement or complete exemption forms can call 311 to be connected to the Department of Finance. Outreach events for homeowners are being held citywide: A full list of outreach events is available at nyc.gov/liensale.

About the Center for NYC Neighborhoods
The Center for NYC Neighborhoods promotes and protects affordable homeownership in New York so that middle- and working-class families are able to build strong, thriving communities. Established by public and private partners, the Center meets the diverse needs of homeowners throughout New York State by offering free, high quality housing services. Visit cnycn.org for more information.