Pittsfield Tax Title Auction

The city of Pittsfield will hold a tax title auction this Spring with the help of a yet to be determined auction firm.  During the auction the City will be selling its property tax titles to investors instead of the City engaging in the lengthy foreclosure proceedings required by Massachusetts Law.  The auction will include numerous tax titles from all wards in the City.  Under Massachusetts Law, municipalities may issue a tax taking to lien properties for accounts more than a year past due, and the City has numerous properties that are many years in arrears.  Once an account is in tax title, the taxpayers are responsible for 16 percent interest on the principal balance of the account. After six months the City can file for municipal foreclosure. Upon receiving a judgment of tax foreclosure from the land court, the municipality becomes the owner of the property.  Massachusetts General Laws Chapter 60, section 60 & 2C allows for municipalities to assign the lien to an investor for the full redemption price.  The investor then can either collect the tax or proceed with the foreclosure.  The City plans on holding a pre-auction reviewing of the proposed properties to be sold and then proceed with the sale.  All questions regarding this process can be directed to City Attorney, Darren M. Lee at 413 499-9352 via e-mail dlee@pittsfieldch.com