New York A05656 requires municipal tax collectors to hold a hearing after a tax lien sale to distribute funds to the former owner of such property.

New York A05656 amends the real property tax law to mandate that municipal tax collectors hold a hearing after a tax lien sale to distribute any surplus funds to the former owner of the property. The bill specifies that the hearing must occur after the sale, and it outlines procedures for notifying interested parties about the sale and the distribution of surplus funds. It also details the process for redeeming liens and the consequences of failing to redeem them. The changes are set to take effect 60 days after the bill becomes law.

New York A05656 requires municipal tax collectors to hold a hearing after a tax lien sale to distribute funds to the former owner of such property.

New York A05656 amends the real property tax law to mandate that municipal tax collectors hold a hearing after a tax lien sale to distribute any surplus funds to the former owner of the property. The bill specifies that the hearing must occur after the sale, and it outlines procedures for notifying interested parties about the sale and the distribution of surplus funds. It also details the process for redeeming liens and the consequences of failing to redeem them. The changes are set to take effect 60 days after the bill becomes law.