New York S07940 amends the real property tax law to require municipal tax collectors to hold a hearing after a tax lien sale to distribute funds to.

New York S07940 amends the real property tax law to introduce a requirement for municipal tax collectors to hold a hearing after a tax lien sale. This hearing is intended to facilitate the distribution of any surplus funds to the former owner of the property. The bill specifies that the hearing must occur within a defined period after the sale, and it outlines the procedures for notifying interested parties about the sale and the opportunity to claim any surplus funds. This change aims to ensure transparency and fairness in the distribution process following a tax lien sale.

New York S07940 amends the real property tax law to require municipal tax collectors to hold a hearing after a tax lien sale to distribute funds to.

New York S07940 amends the real property tax law to introduce a requirement for municipal tax collectors to hold a hearing after a tax lien sale. This hearing is intended to facilitate the distribution of any surplus funds to the former owner of the property. The bill specifies that the hearing must occur within a defined period after the sale, and it outlines the procedures for notifying interested parties about the sale and the opportunity to claim any surplus funds. This change aims to ensure transparency and fairness in the distribution process following a tax lien sale.