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NYC Faces Tax-Lien Revenue Crisis
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Overview
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New York City is grappling with over $880 million in delinquent property taxes following the expiration of a tax-lien sales program, sparking concerns about financial burdens on homeowners and potential foreclosures.
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How might the reauthorization of tax-lien sales impact the housing market and property owners in NYC?
What broader implications does the financial strain on homeowners in NYC have on the city's socioeconomic landscape?
What strategies could be implemented to address the growing issue of delinquent property taxes in urban areas?
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