Ulster Acquisitions I LLC, the title record owner of 701 Grant Avenue in the Town of Ulster, has not paid taxes since the 2010 tax year. Based on our review, we find no justification for Ulster County not to foreclose on 701 Grant Avenue and find no justification for its current classification as hazardous uncollectible.
To date, the County has not pursued foreclosure on this property, which reports the total amount of taxes, interest, and penalties due at over $10.1 million. The size of the growing receivable has a material impact on Ulster County’s financial statement.
In each year since 2013 when the property first became eligible for foreclosure, the County either did not take action or withdraw the property from foreclosure resulting in significant lost tax revenues. The parcel was withdrawn from annual foreclosure actions without further investigation of 1) the scope of potential contamination and, 2) other means to enforce the tax arrears to obtain back taxes for taxpayers.
