INDUSTRY NEWS: NTLA IN THE PRESS

NJ - Atlantic City plans sale of $50 million in tax liens

Wednesday, November 12, 2014   (0 Comments)
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Press of Atlantic City


NTLA Executive Director, Brad Westover quoted in recent article on Atlantic City tax lien sale in December...

 

“The local government gets an immediate infusion of cash for a non-performing asset” when it sells a lien, said Bradley Westover, executive director of the National Tax Lien Association, a trade group for the tax-lien industry.


Tax lien sales, permitted in 29 states and the District of Columbia, have been around for about a century but gained popularity in the 1990s, with four to five billion dollars in such liens now sold annually in the United States to private investors, he said.


For a beleaguered city, “This is a pretty sweet tool,” he said. Without it, “you would have to make some really tough decisions” to cut city services. “It would be pretty catastrophic,” he said.

 

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