Tax Sale Information
In every calendar year the Municipality is required by law to hold a Municipal Tax Sale, for the purpose of collecting delinquent taxes, water/sewer and miscellaneous charges for the prior calendar year.
Notices of the proposed sale are sent to the homeowner, and published in the newspaper for 4 weeks. On the 5th week, the sale is held.
The sale is in the form of a public auction. Members of the public attend, and bid on an interest rate to be attached to the lien. Bidding starts at 18% and is bid down. Should the interest rate bid reach 0%, a premium is then offered to secure the lien. At the conclusion of the sale, the town receives the delinquent amounts from the successful bidder, and a lien is then placed upon the property.
A successful bidder may start foreclosure proceedings against the property owner if the lien has not been redeemed within 2 years. The lien does not give the bidder any rights to the property, such as trespass or ownership.
Tax liens are to be redeemed in the tax collectors office.
TAX SALE IS SCHEDULED FOR: FRIDAY, November 18, 2016 AT 10:00 AM.
PPB Borough Hall
416 New Jersey Avenue
Point Pleasant Beach