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2022-05 Department of Finance Real Property Tax Division Revenue Cycle Management
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2022-05 Department of Finance Real Property Tax Division Revenue Cycle Management
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8/9/2023 3:38:53 PM
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9/14/2022 1:36:52 PM
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o A list that would exceed the title vendor's capacity. Contractually, the vendor is <br /> expected to produce 200 preliminary reports for each tax sale, or 400 annually. <br /> <br /> The following activities take place 45 - 60 days before the tax sale: <br /> • Property is posted <br /> • Final registered letter is mailed <br /> • Litigation update is obtained to ensure no changes have taken place <br /> <br /> The following activity takes place 30 days before the tax sale: <br /> • Advertising in three newspapers with a significant audience <br /> <br /> The following activities take place on the day of the tax sales: <br /> • Auction is held (tax sale) <br /> • Unsold properties remain with the non-paying fee owner <br /> <br />3. Post-Closing Procedures <br /> The following activities take place 14-30 days post-sale: <br /> • 2nd litigation update is ordered to ensure no changes have taken place on day 14 <br /> • Past sale owner and lienholder notice on day 30 <br /> <br /> The following activities take place 1-year post-sale: <br /> • Lienholder surplus deadline 1-year post-sale <br /> • Redemption deadline 1-year post-sale <br /> <br /> The following activities take place two years post-sale: <br /> • Owner surplus claim deadline <br /> • Unclaimed surplus goes to the general fund <br /> <br /> <br />26 Page <br />
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