City still owed $186M in back taxes from homeowners

In recent years, the city has sold its past-due taxes, or liens, to a banking institution as a way of raising instant cash. If they’re sold in the May lien sale, a 5 percent surcharge is added to the delinquent taxes — a stick to get building and homeowners to pay up. To keep people…
Source: nypost Real estate
City still owed 6M in back taxes from homeowners