NTLA Executive Director, Brad Westover quoted in recent article on Atlantic City tax lien sale in December...
“The local government gets an immediate infusion of cash for a non-performing asset” when it sells a lien, said Bradley Westover, executive director of the National Tax Lien Association, a trade group for the tax-lien industry.
Tax lien sales, permitted in 29 states and the District of Columbia, have been around for about a century but gained popularity in the 1990s, with four to five billion dollars in such liens now sold annually in the United States to private investors, he said.
For a beleaguered city, “This is a pretty sweet tool,” he said. Without it, “you would have to make some really tough decisions” to cut city services. “It would be pretty catastrophic,” he said.