More than 800 Lacey properties will be auctioned off at the township’s annual lien sale on Friday, Feb. 3 at 10 a.m.
As of Jan. 31, 2012, the total sale amount for all 878 properties was $1,014,696.36.
The township will auction off the outstanding balance on each property, Sharon Sulecki of the Tax Collectors Office said. The balance is determined by the amount in —property, water, and sewer.
The potential lien holder bids on the property and gives the township money, she said. In return, they’ll get a tax sale certificate, which guarantees that they’ll get reimbursed.
“They earn interest on this,” Sulecki said. “It’s an investment opportunity.”
For those whose property is being auctioned off, Sulecki likens it to borrowing on a mortgage. The money is being lent to them until they pay it themselves or until the home is foreclosed upon.
Tax sale certificates can earn interest up to 18 percent, depending on the winning percentage bid at the auction, according to the state’s Division of Local Government Services.
Below is a list of the top 10 taxpayers who have failed to pay their taxes organized by owner name, property location and principal due:
- Edrich Corp., 701 South Main Street, $35,589.81
- Scott, Robert R & Rebececca, Hemlock Drive, $10,139.12
- Robert S. Fay and Sharon W., Wells Mills Road, $10,123.51
- David C. Smith, Joan G. and Gale W. Jr., Paradise Point Way, $10,019.37 (for multiple lots)
- Lanoka Harbor Realty Corp., North Main Street, $9,874.14
- Sheryl Schomer, Capstan Drive, $9,742.19
- Parker Associates, Inc., Paradise Point Boulevard, $9,331.04 (for multiple lots)
- Richard Goldenbaum, Sinclair Avenue, $8,419.17 (for multiple lots)
- Salvatore D’Addario, Polaris Court, $8,316.34
- Franklin S. & Cornelia G. Lane, North Main Street, $7,552.83
If the property is a business, as Edrich Corporation is the Shark Fin Inn, the situation is handled the same as a home. The business will continue operation just as the delinquent resident remains the owner of the home.
As of Tuesday, the Tax Collector’s office was trying to close on bidder’s pre-registration for the auction.
For more information on the tax sale process, click here.
The tax sale list can be found here.