The District’s annual delinquent property tax auction failed to generate bids on more than half the lots up for sale, leaving $24 million in real estate taxes still unpaid. But the Office of Tax and Revenue isn’t giving up on its collection efforts. Quite the opposite — it’s ramping up. OTR sold the liens on roughly 1,265 properties during the three-day September sale out of more than 2,700 lots auctioned. The sale generated $11.2 million, well short of the $35.9 million owed to the city in taxes, interest and penalties. The properties that did not sell are “bid back” to the District. Starting soon, officials say, OTR will launch a “special deed sale,” where it puts unsold, still-delinquent properties on the block to anyone with the cash to pay what’s owed.
D.C. will rebid delinquent properties
Most Popular Articles
Latest Articles
Why are existing home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.