PHILADELPHIA-Now that the city has made changes to its property tax collections system, some city officials are willing to revisit the idea of possible selling off its property tax liens.
The last time the city considered such an idea was during the Rendell administration in the 1990s, according to the Inquirer.
A bill sponsored by City Councilman Bill Green could garner final approval from the City Council today. The measure would set some new guidelines for lien sales.
The Nutter administration's Law Department has stated that the City Council has no authority over lien sales and that Councilman Green's bill would have "no legal effect."
Green, however, hopes his bill would prompt the city to at least think about selling the tax liens. "It's a step we can take without taking on an obligation ourselves and still get paid," he said. "It's a vehicle we have, and we should use it until we have a better one." The councilman believes lien sales could bring in between $50 million to $60 million each year to the city. See story in The Inquirer.
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