ATLANTIC CITY LOOKING TO COLLECT BACK TAXES

Atlantic City officials want to get what’s coming to them: back taxes from troubled casino properties. The city asked a federal judge to fast-track their bid to collect $22 million in unpaid 2014 real estate taxes from Trump Plaza and Trump Taj Mahal. At a December 11th tax certificate sale, Atlantic City will also auction off about $32 million in taxes allegedly owed by the Revel Casino Hotel. Tax-certificate sales allow investors to buy tax liens on delinquent properties, pay the taxes, then foreclose on the property if the investor cannot recoup their payment from the owner.