Tax Title Liens Net $112,311 in Month

National State Bank of Camden, Southwest corner of Broadway and Cooper Street, Camden, NJ - December 2002

Camden Courier-Post – February 11, 1938

Collections on Liquidations Set Record for City, Brunner Reports

By A. Charles Corotis

Liquidation of tax title liens produced $112,311.70 for Camden’s treasury during January, Mayor Brunner announced yesterday. “The figure represents the greatest revenue from this source in any one month of the city’s history,” Brunner added.

In addition, the mayor revealed that $8500 was received last month from rentals on delinquent properties on which he has been named receiver in his capacity of revenue and finance director.

During all of 1937, receipts from municipally-owned liens totaled $482,562.68, while the 1936 total was $229,027.99.

Brunner lauded Isadora H. Hermann, chief counsel of the tax lien department, for results he has produced in capitalizing on tax sale certificates.

Losses Reduced

The mayor further pointed out that losses formerly sustained by the city in disposing of certificates are being reduced through refusal of the commission to accept original offers and appraisals.

In this connection he cited two resolutions prepared for the meeting of the commissioners. One involves lots on the northwest corner of Baird and Maplewood avenues on which $1975.19 is due. A $500 offer was made for redemption. The commission in weekly caucus rejected the offer and set $1000 as the true market value of the land. The owner accepted the city’s valuation and doubled his offer, Brunner said.

Municipal claims on 331 Royden street amount to $707.69. A $300 offer was rejected when the commissioners fixed $450 as the value. The offer was increased to $450, Brunner disclosed.

Thirty-one certificates were redeemed or assigned during January, and on only three of them did the city accept less than the face value of the liens, Brunner announcement shows.

The largest item settled last month involved the Bridge Garage at Sixth and Linden streets. After months of negotiations between City Solicitor Firmin Michel and the Federal receivership-trusteeship on the property, settlement was made for the full principal amount of the delinquency, $86,890.23, plus $2911.80 in interest. The city waived approximately $10,000 interest.

The second largest account settled in January was the building formerly occupied by the South Camden Trust Company at 1800 Broadway. This was a compromise. In addition to waiving interest, the city reduced the principal from $11,824.31 to $10,000. The building had been idle for years.

Interest and part of the principal was eliminated on two other certificates. The sum of $100 was accepted on a $982.93 claim on 415 Emerald street, and $400 to settle $3440.50 on 510 Elm street.

Eleven certificates on land in the vicinity of Eighth street and Atlantic avenue were redeemed at full value, $3095.95 plus $117.98 interest.

Other Redemptions

Other January redemptions, all in full, follow: 219 Linden street, $444.09 principal, $5.23 interest; 343 North Forty-first street, $1316.44 and $10.87; 547 South Sixth Street, $34.92 and $52.20; 1125 North Eighteenth street, $212.02 and $18.32; 1225 Hyde Park, $349.37 and $30.02; north side Howell 1820 feet west of Twenty-seventh, $166.37 and $11.65; north side Howell 1860 feet west of Twenty-seventh, $166.38 and $11.33; 1590 Pierce avenue, $890.73 and $138.19; 1634 Broadway, $1077.80 and $129.22; 1496 South Ninth street, $1013.46 and $48.87; 820 Federal street, $966.45 and $8.45; 343 Cherry street, $176.35 and $25.84; 1133 Louis street, $242.20 and $13.44, and 1131 Louis street, $301.65 and $17.37.

The other two certificates were assigned, both for full claims. One, on 613 Walnut street, produced $350.43 plus $123.47 interest; the other, 1200 South Third street, $408.24 and $34.08 interest.

The grand total of redemptions and assignments for the month is $108,-603.05 principal and $3708.65 interest.

“Had these transactions been made under a contract, the cost to the city would have been $2325, or $75 each,” Brunner said in a statement accompanying his announcement.

Praises Hermann Bureau

“As it is, they represent only part of the tremendous work of Mr. Hermann’s department. Everything pertaining to liquidation of liens is done there. Deeds are acquired, searches are made, bills in foreclosure are filed, agreements to make monthly payments are drawn, resolutions are prepared, receiverships are obtained.

“The activity of that department has contributed greatly to the improved condition of the City of Camden.”

Rentals from receiverships netted the city more than $100,000 last year, according to Louis Hoffman, clerk in charge of tax sales, whose department collects rents after Hermann obtains the receiverships in Chancery Court.

“Receipts from those properties average between $8000 and $9000 each month,” Hoffman said. “During much of last year it was $11,000, before the Bridge Garage and some other large accounts were redeemed.”


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