Millions of dollars owed to individuals and entities that have lost their Baltimore properties through tax sale foreclosure has sat untouched in city coffers — some of it for years — with few of those entitled knowing of its existence.
More than 2,100 of those who lost properties after becoming delinquent on city taxes are currently owed a share of the $6 million pot of money, according to The Baltimore Banner's analysis of Department of Finance records.
The majority of owners of the 41,000 properties that have appeared on the city’s annual tax sale list since 2016 have managed to keep them out of foreclosure by paying thousands of dollars in owed taxes, interest, and attorneys fees to investors who purchased their tax debt, The Banner reported last month.
But in more than 1,750 of those cases, the property owners did not pay the lienholders back within the allowable redemption period, and the properties were foreclosed on and the deed transferred — taking owners’ full equity along with them.
And the only redress claimable by those owners often doesn’t make it into their hands, The Banner found.
“It’s shameful that we haven’t been able to get it to the previous owner,” Councilmember Odette Ramos said of the excess funds, which she learned about while reviewing the budget during her first year in office. “I was, like, are you kidding me? We’re holding all this money — this is crazy.’”
This story continues. Read the rest at The Baltimore Banner: Baltimore residents who lose homes after tax sales often don’t see excess funds they’re owed from auction
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