Tax Lien Auction Property Volume Hits Three-Year Low in Buffalo

A decrease in the volume of properties up for grabs at this year’s city tax foreclosure auction in Buffalo, New York indicates improving economic conditions, reports the local commissioner of assessment and taxation[1]. The number of people delinquent on property taxes and at risk to lose their properties is at a three-year low, indicating that the economic situations of many local residents have improved. The commissioner, Martin F. Kennedy, expects the list of 3,983 to shrink by as much as an additional third by the time the auction rolls around. This is far better than in 2008 and 2009 when over 5,000 properties were at risk this time of the year.

The city is providing lawyers to assist with the setup of payment plans and assistance and education sessions for homeowners and advocacy groups are in place to help the “elderly, disabled or disadvantaged.”

Have you noticed this trend at the tax lien auctions you attend?

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[1] http://www.buffalonews.com/city/communities/buffalo/article207448.ece