New York A06108 amends the real property tax law to return surplus proceeds from tax lien foreclosures to former property owners and mandates a.

New York A06108 amends the real property tax law by ensuring that former owners of residential, farm, or commercial properties receive any surplus proceeds from tax lien foreclosures. Surplus is defined as the amount remaining after the property is auctioned and all outstanding taxes, interest, and fees are paid. The bill also requires tax districts to post a notice of public auctions on the property 14 days prior. This notice must detail the potential surplus, how to claim it, and the steps the former owner must take.

New York A06108 amends the real property tax law to return surplus proceeds from tax lien foreclosures to former property owners and mandates a.

New York A06108 amends the real property tax law by ensuring that former owners of residential, farm, or commercial properties receive any surplus proceeds from tax lien foreclosures. Surplus is defined as the amount remaining after the property is auctioned and all outstanding taxes, interest, and fees are paid. The bill also requires tax districts to post a notice of public auctions on the property 14 days prior. This notice must detail the potential surplus, how to claim it, and the steps the former owner must take.