In today’s The Journal News and on LoHud.com, Reporter Barbara Livingston Nackman details Putnam County’s new plan to sell foreclosed properties for market rates in hopes of increasing the pool of buyers and boosting revenue.
The plan calls for the county, which typically sells the properties through public tax auctions that draw only a few prospective buyers with verified financing in place, to use local Realtors to market them.
Putnam is considering the sale of 77 parcels in all six counties to reclaim millions in delinquent taxes.
“We were never getting full value for the properties but looking just to recover the arrears. This will help to stimulate economic development and help more people participate in the process,” Putnam County Executive MaryEllen Odell said in the article.
Read the full story here.
Photo: 2 Peekskill Hollow Road in Carmel is in tax arrears for $573,600. / Barbara Livingston Nackman/The Journal News