Whether you realize it or not, now - right now – and through Thursday evening at 8 PM, the almost annual Orleans Parish Tax Sale is taking place via CivicSource.com. It’s a big deal for many reasons, but also it can be rather fascinating if you’re a fan of Crescent City dwellings as well as archaic governmental proceedings. Here’s why: you bid down.
It’s the same dollar amount to all bidders, but you bid down percentage of ownership. Therefore conceivably one willing to purchase 1% of any given property’s tax year(s) becomes the de facto winning bidder and cannot be outbid, however they are settling for the smallest possible amount of ownership. Very New Orleans, right?