NJ Lawmakers Mull Letting Local Gov'ts Bid In Tax Sales

Law360, New York (November 7, 2013, 6:43 PM EST) -- A pilot program considered by New Jersey's legislature on Thursday would give distressed communities more power to bid in tax sales, enabling them to profit off of the sales and help troubled taxpayers.

The bill, SB2400, would allow local governments in distressed communities to bid in tax sales for properties that would be useful for public purposes or that would be financially advantageous for the municipality to own.

The local government can also bid on liens on properties in tax sales and opt whether to give...
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