KINGSTON – Best Use Of Monies
I was able to view the City of Kingston TAX FORECLOSURE AUCTION on 11.14.2017 and unofficially the City of Kingston had $1,393,000 (according to our Assessor) worth of private property that was seized from the owners who owed $568,000 in unpaid taxes and water/sewer charges. If the amounts from the highest bid actually are received and then (approved by Common Council as some were under the minimums) the City should receive about $826,550 before expenses. This is of course the tip of the iceberg as hundreds of more property in the City are abandoned and owners are also in arrears of City of Kingston’s/Kingston Consolidated School Taxes high taxes and over assessments.
Interesting was the Auctioneer George Cole at the beginning Donating a Painting to the City of Kingston which was then auctioned for $450 — the Mayor previously announcing before the auction that he would direct the proceeds to the Friends of the Forsyth Nature Center — hopefully he will get Common Council Approval of the donation as we know that the gift to the City was not then his money to in turn direct to his charity of choice. Maybe a better move would be to aid the homeless who will be/were evicted from their properties?
William F. Berardi CPA, MBA, RIA, PFS