City of Trenton announces online auction for delinquent taxes
The City of Trenton has announced that it will hold an online auction on December 16, 2024, for the sale of 2024 and prior year delinquent taxes and other municipal charges. This auction provides an opportunity for investors and interested parties to acquire tax liens on properties with outstanding municipal debts as of November 1, 2024. Bidders will be required to post a 10% deposit of the total amount of intended winnings (this does include premium bids), minimum deposit of $1,000.00 required. The deposit may be made online via ACH transfer only.
The auction is being conducted online, streamlining the process for participants and expanding access to bidders locally and beyond. For those interested, the city has published a comprehensive listing of parcels, the amounts due, and detailed instructions for registration and bidding. This information is available through the auction’s official website, accessible via the City of Trenton’s online portal. The winning bidder is the one who bids the lowest percentage of interest or bids the highest premium dollar. It is the Buyers’ responsibility to know the quality of the property on which they are bidding. If the certificate is redeemed by the property owner prior to foreclosure, the certificate earns a redemption penalty at the rate of 2, 4, or 6 percent, depending on the amount of the original tax sale certificate, in addition to any interest at the rate bid.
What is a Tax Lien Sale?
A tax lien sale does not transfer property ownership. Instead, it allows the purchaser to assume the lien on the property, giving them the right to collect unpaid taxes, penalties, and interest from the property owner. If the property owner fails to redeem the lien after two years, the lienholder may initiate foreclosure proceedings.
How to Participate
Prospective bidders must register and complete all necessary requirements prior to participating in the auction. The auction website will provide full details on how to create an account, submit required documents, and place bids.
This sale represents a chance for the city to recover unpaid municipal charges while encouraging investment in Trenton’s real estate market. It also highlights the importance of timely payment of property taxes and other charges to avoid losing control of a property through lien sales.
For more details and to access the auction platform, click here.
