NEWS FROM THE OFFICE OF

ULSTER COUNTY COMPTROLLER

ELLIOTT AUERBACH
ELLIOTT AUERBACH COUNTY COMPTROLLER 244 FAIR STREET KINGSTON, NEW YORK 12401 PHONE: (845) 340-3529 eaue@co.ulster.ny.us
www.youreyesonlulster.com

ULSTER COUNTY FORECLOSURES CONTINUE UPWARD TREND

Sharp Rise In Both The Number of Properties and the Outstanding Debt At Public Auction

For Immediate Release Kingston, New York (April 4, 2014) The number and value of properties in foreclosure in Ulster County is on the rise. The 2014 Public Auction catalog lists 270 properties totaling nearly $5,000,000 in unpaid taxes. This is a 28% increase in the number of properties and a 32% increase in the amount of unpaid taxes, over 2013. Since 2009, the number of foreclosed properties has more than doubled. The financial impact has tripled with a 207% increase in the dollar value of unpaid taxes, interest and penalties. 27% of the properties in the 2014 auction catalog were also listed in the 2013 publication. These 74 properties represent nearly 40% of the tax liability of properties up for sale this year. The tax liability on these repeat properties increased almost 15%. In addition to noting the alarming trend in the local foreclosure market, Ulster County Comptroller Elliott Auerbach is also concerned that all the freezes and caps on property taxes put in place by Albany lawmakers do not help those folks who have already fallen behind. Auerbach is an advocate of changing state law to increase opportunities for property owners to become current with their tax obligations and avoid foreclosure. Auerbachs annual By The Numbers report on tax lien foreclosures provides a plain language overview of properties foreclosed. The 2014 Tax Lien Foreclosure Report identifies the Towns of Saugerties and Wawarsing as having the highest dollar value of foreclosure properties. The report also identifies properties listed as hazardous. The 2014 public auction is Wednesday, April 23, 2014 at 9:00 AM at Vanderlyn Hall, SUNY Ulster. The report can be found at www.ulstercountyny.gov/comptroller/snapshot-reports

The mission of the Ulster County Comptrollers Office is to serve as an independent agency of the people and to protect the public interest by monitoring County government and to assess and report on the degree to which its operation is economical, efficient and its financial condition sound.