Tax Sale Scheduled In Chester; Is Your Property On The List?

CHESTER, NJ — Chester Borough has announced its annual tax sale for properties that have not paid property taxes or other prior delinquencies.

The sale will commence on Oct. 24, 2024, at 9:30 a.m. in the Municipal Building, 50 North

Road, Chester, according to Elizabeth Holtz, Tax Collector of the taxing district of the Municipality of the Borough of Chester.

The following properties are on the list for the 2024 Chester Borough Tax Sale of 2023 property tax and/or utility delinquencies as of Oct. 16.

• 101 13 GLOBAL ACQUISITIONS COMPANY, LLC — $60,580.30
• 101 14 GLOBAL ACQUISITIONS COMPANY, LLC — $114.87
• 101 15 GLOBAL ACQUISITIONS COMPANY, LLC — $12,901.11
• 102 27 STEINBERG, JEAN C. — $259.12
• 111 3 VARELA, ROBERT J/JACLYN — $1,357.74

What is a tax lien?

According to the auction website, "a tax lien is a document representing unpaid municipal charges, assessments, penalties, advertising costs and fees. If the property owner fails to pay the delinquent municipal charges during a specified period of time, the municipal government can sell what is called a tax lien certificate to investors so that the municipality may recoup the delinquent municipal charges."

If a municipality has delinquent property taxes and/or municipal charges, New Jersey law requires all 566 municipalities to hold at least one tax sale per year. Winning bidders must immediately pay outstanding taxes and interest to municipalities.

Buyers are then given a tax sale certificate, which they can use to foreclose on the property and obtain ownership after the lengthy process. Learn more about tax lien sales in New Jersey here.

As a bidder, what is required of me?

It is the responsibility of the bidder to:

1. Be completely familiar with the pertinent tax certificate sections of the New Jersey Statutes.
2. Research each property thoroughly prior to placing a bid.
3. Conform to all deposit, registration or payment deadlines, if applicable

Properties will be sold with the option for redemption at the lowest interest rate, not to exceed 18 percent per annum. Payment for purchased liens must be made in cash, by money order, or by certified check before the sale is completed, borough officials said.