$2.1M in delinquent tax, lien accounts to be sold.

• Position: LOCAL NEWS

Byline: Nick Kotsopoulos

WORCESTER - The city plans to sell collector's deeds for 484 accounts that are in arrears in real estate taxes or have water-sewer liens.

The accounts are collectively in arrears by more than $2.1 million, excluding the 16 percent statutory interest rate the city is allowed to assess against delinquent accounts, according to Mariann Castelli Hier, treasurer and tax collector.

She said a collector's deeds auction for those accounts is scheduled for Oct. 29.

Collector's deeds are a financial tool used by the city to ensure it secures the delinquent funds while avoiding lengthy and costly Land Court proceedings.

Investors and companies that buy the deeds inherit the right from the city to collect the taxes or water-sewer liens owed on the property, and 14 percent to 16 percent interest from the day the investor bought the property.

If the investors are not paid, they can initiate action in Land Court to seize the property.

The starting price for...