November 3, 2017
Contact: Mayor Lisa Baldelli-Hunt
THE CITY OF WOONSOCKET CONCLUDED THE OCTOBER 19, 2017 TAX SALE WITH OVER $800,000 IN COLLECTED REVENUES
WOONSOCKET, RI: Properties totaling nearly $394,000 of uncollected taxes, which appeared on the original tax sale list, were able to be removed from the auction by settling their debts with the City prior to the tax sale. The remaining properties brought in an additional $440,000. Mayor Baldelli-Hunt stated, "The significant amount collected prior to the sale enabled many homeowners to retain their interest in their properties, which reflects success in the process and the ultimate goal."
Although some of the properties included on the final tax sale were not attractive to outside bidders, the City of Woonsocket needed to move forward with the sale in order to protect their interest. “Unfortunately, we have properties with outstanding tax liabilities that go back decades. Because they’ve been overlooked for so long, the delinquency amount far exceeds the actual value of the property,” stated Treasurer, Kerry Vasaturo. “By now securing a lien on the property, this enables the City to move forward with foreclosing on the right of redemption if the individuals with legal title do not come forward and pay their taxes. By foreclosing on the right of redemption, the City of Woonsocket can then actively market the property to help secure future tax revenues,” stated Assessor, Elyse Paré.
The Mayor attributed the positive results of the tax sale to the commitment of all members of the Finance Department. "By actively collecting all back taxes that are owed, we are continuing to promote financial stability that directly benefits the citizens of Woonsocket," stated the Mayor.