ROSELLE, NJ – The Borough of Roselle will hold the annual sale of unpaid real estate taxes, Friday, Dec. 9, at 10 a.m. in the Council Chambers. This is not a property or foreclosure sale.
A tax sale, which is required by the State of New Jersey N.J. S.A 54: 5-1, ET SEQ., is not a property sale. Conducted by the tax collector, the tax sales generate income for the town. Third parties and the municipality can bid on the outstanding taxes, and the successful bidder pays the outstanding taxes and becomes the holder of the Tax Sale Certificate. Once recorded with the county clerk, it becomes a lien against the real estate. The holder of the TSC must then pay the current taxes on the property for the next two years. The TSC holder can begin proceedings to foreclose on the property after two years, and a municipality can initiate proceedings after six months, if the homeowner has not redeemed the property before those deadlines.
Homeowners who owe back taxes have until Dec. 9, 10 a.m. to pay those outstanding taxes either in cash, certified check, or bank money order. Once the sale begins, the homeowners cannot, however, bid on their own properties. If the home owners taxes go to sale, no one will contact you to put you out of your home. The TSC holder is putting a lien against your property and must wait the two years before they can initiate foreclosure proceedings.
Those wishing to bid must fill out a bidder information sheet, accompanied with a W9 form and a social security number or tax ID. For forms and a list of properties with the amount of taxes due, contact tax accountant Martha Alexander at 908-259-3027.