Yonkers sold 479 of 573 tax liens to private investors yesterday, reaping nearly $3.2 million for city coffers, The Journal News/Lohud.com reported today.
The money comes as Yonkers forcasts an aggregate budget shortfall that could hit $428 million by 2016.
In July, the city published the names of more than 800 tax debts from 2010 that hadn’t been paid. Some people settled their debts before the auction. Properties that are in bankruptcy cannot be sold by the city.
Liens that were sold include those of Mount Vernon Mayor Ernest Davis, who owes $4,255 on a condominium at 23 Water Grant St., and former Yonkers Police Commissioner Charles Cola, who owes $2,296 on a home at 25 Rose Hill Terrace.
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