§ 45 — Sale of property for unpaid taxes

New York § 45

• Jurisdiction: New York
• Law SCT: Suffolk County Tax Act
• Art. 2: Collection of Taxes and Assessments By Sale

Text

§ 45. Sale of property for unpaid taxes. If the owner, mortgagee or\noccupant of or party in interest in such real estate does not pay such\ntax or assessment, with the costs, additions and charges, within the\nperiod stated in such advertisement, then the county treasurer shall,\nwithout further notice, commence the sale of lands specified in such\nnotice of sale on the day set for that purpose and continue the sale\nfrom day to day until every such lot or parcel is sold. Such lands shall\nbe sold for an amount sufficient to pay all the taxes and assessments\ndue thereon for the years for the taxes of which said sale shall be made\nwith interest thereon to the time of sale, and all costs, expenses and\ncharges accrued thereon and, subject to reductions as herein provided,\nsaid amount paid for such property shall carry and bear the maximum\ninterest and penalties as follows: six per centum on the purchase price,\nif redeemed within six months of date of sale. An additional six per\ncentum on the purchase price if redeemed after the expiration of six\nmonths and within twelve months of the date of sale. An additional six\nper centum on the purchase price if redeemed after the expiration of\ntwelve months and within a period of eighteen months of date of sale. An\nadditional six per centum on the purchase price if redeemed after the\nexpiration of eighteen months and within a period of twenty-four months\nof date of sale. An additional six per centum on the purchase price if\nredeemed after the expiration of twenty-four months and within a period\nof thirty months of date of sale. An additional six per centum on the\npurchase price if redeemed after the expiration of thirty months and\nwithin thirty-six months of date of sale. The rate of interest at which\nany person or persons shall offer to take the lot or parcel of land to\nbe sold shall be established by his bid. The rate thus established shall\nbe the rate of interest for every period of six months or fraction\nthereof up to the time of the redemption of the property purchased until\nthe expiration of three years, plus all taxes paid by the purchaser with\ninterest thereon at six per centum per annum to the date of payment. At\nsuch sale, rates of interest shall be bid in multiples of one per centum\nor a flat bid of no interest whatsoever and parcels shall be sold and\nbid upon separately. If more than one person bids the same rate of\ninterest, the county treasurer or person conducting such sale shall sell\nthe parcel to whichever of such bidders as he in his sole discretion\nshall determine. In any case, however, and as to any parcel, the county\nmay reject any and all bids and bid in and purchase the same for the\ncounty at a rate of interest as shall be established by resolution of\nthe county legislature, but not to exceed the maximum rate of interest\nas herein provided in which event the bid of the county shall be\npreferred over all other bids. The county shall likewise be deemed the\npurchaser at the rate of interest as herein provided for of all parcels\nwhich are not sold at sale. The county legislature may by resolution\nexclude from such sale such parcels as it determines where the county\nhas entered into any agreement concerning the disposition of tax liens\nthereon with a tax district or other person pursuant to section one\nhundred sixty-six-a of the tax law or other provisions of law. The\nforegoing rates of interest shall be applied whenever those rates are\ngreater than the rates of interest as established in section thirteen-c\nof this tax act.\n