NTLA Progress Update
Thursday, November 14, 2013
Posted by: Morgan Mains
NTLA In Action
Update from Brad Westover, NTLA Executive Director
The NTLA’s progression in 2013 was calculated and swift. We have a number of projects on the forefront, and with the launch of our market research project back in June, we are well on our way. In the 17 year history of the NTLA, there has never been such an undertaking. The project’s overall focus is to establish an accurate answer to the question: How large is this market?
In addition, this research project also aims to answer a handful of other questions such as:1) How many people don't pay their property taxes in America? 2) How many liens and dollars are sold to the private sector on an annual basis? 3) How many parcels start tax foreclosure? How many owner occupants lose their home to tax foreclosure?
It is a tedious but necessary project, and one that will cost the NTLA $75,000 to $100,000 to produce. To date, we have completed AZ, FL, CO and DC, and are currently tackling IN, IL, OH, SC, and NJ. At the end of the day, the NTLA will be the leading source for relevant market research and be able to back up the false accusations that there is a tsunami of tax foreclosures coming down the pike.
Additionally the NTLA has legislative coverage in all 50 states to monitor any prospective legislation which could adversely affect our marketplace. We ask that you play a part and become a monitoring member of this task force. Please volunteer by contacting me directly at firstname.lastname@example.org
We also continue to reach out to states to potentially include tax lien sales (VA, NC, MI, OR, and WA). We don't believe in pushing legislation through that does not have local tax collector/treasurer support. By continual conference attendance and "paying our dues”, we are confident that we will gain local support for the idea and then mutually draft legislation to allow the sale of tax liens.
It is estimated that 75% to 80% of all tax liens sold in America are sold to members of the National Tax Lien Association. Our Board of Directors just approved a new membership category for Private Investor - Own Funds. Our membership has increased 50% in the past two years. We have positioned the NTLA as the voice of the industry, and I want to make sure we include smaller investors in the mix, to effectively be the voice for all investors.
Lastly, we have also just added a new membership group, Tax Deed Investors, who have long been ignored and unrepresented. It is time we invite them to the party and broaden our educational offerings to include REO best practices and have Home Depot and Lowes as our sponsors in addition to our current invaluable business partners.