NY S05383

Requires tax districts to post notice of property auctions on the front door or equivalent location 14 days prior to the public auction.

Entitles former owners of residential, farm, or commercial property to any surplus proceeds resulting from tax foreclosure sales, defined as amounts remaining after outstanding taxes, interest, liens, and administrative fees are paid.

Directs the enforcing officer to report surplus amounts to the court, which shall deposit funds in trust with the county treasurer or commissioner of finance for at least three years.

Requires municipalities to notify property owners when their foreclosed property generated surplus proceeds and provide instructions on how to claim the surplus.

Applies these provisions to all counties, cities, towns, and villages in New York State, effective immediately upon enactment.