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Vendor pitches tax-lien sale program as cash-flow tool to East Allegheny SD board
Summary
A vendor told the East Allegheny SD board its patented program of buying delinquent property tax liens can provide an immediate, unrestricted lump-sum payment and predictable collection reporting; board members questioned timing of collector turnover and budget impact.
At a recent East Allegheny SD board meeting, a vendor that buys delinquent real-estate tax liens urged the board to renew a tax-lien sale arrangement that would advance the district a lump-sum payment in exchange for delinquent liens, saying the structure supplies unrestricted revenue and predictable reporting.
The presenter, identified in the transcript as the company representative, said the firm is based in Erie and described the program as patented. "We're the only company in the Commonwealth, Pennsylvania that does this," he said, and added the firm has clients across the state. He told the board the company purchases delinquent tax books and advances money to school districts so the districts receive a lump-sum cash inflow rather than waiting for monthly redemptions.
The vendor…
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