Yesterday, the San Francisco Board of Supervisors unanimously approved a plan to auction off properties of city tax evaders[1]. However, they’re going to be nice about it. Last May the city notified 117 private property owners that if their local taxes were not paid, their properties would be sold at auction[2]. The city plans to do so – with minimum bids starting at the amount of delinquent taxes and other fees owed – but anything in excess will be turned over to the delinquent former property owner. City officials expect the sale to bring in $1.1 million. Property owners can pay off the debts up until the day of the auction.

More and more cities that have previously avoided tax auctions and tax foreclosures are now holding these events in order to bolster their budgets. Are you as a tax lien or tax deed investor benefiting from this change?

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Let us know how you feel about the increased volume of tax lien and tax deeds auctions and what it has done for your business.

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[1] http://www.nbcbayarea.com/the-scene/real-estate/SF-Plans-to-Auction-Off-Tax-Evaders-Homes-117247548.html

[2] http://sf.curbed.com/archives/2011/03/02/we_need_the_money.php