There are several methods of enforcing the payment of taxes. The property may be sold at public auction. At such auction sale the property is struck down to the highest bidder. The sale, however, is subject to the right of the former owner to redeem the property from the sale by paying the amount of taxes, penalties, and interest within a certain time. Sometimes the sale takes the form of a lease of the property for a period of years. In the City of New York at present the law permits the City to sell a lien on the property after taxes, assessments or water rates have remained unpaid for a certain time. A list of all properties upon which there are arrears of taxes, assessments or water rates is made up and the date of sale advertised, and at such sale the purchaser acquires not the property itself but a lien upon it. The bidding at the sale is by rates of interest, the person bidding the lowest rate of interest (which must not be more than twelve per cent) becomes the owner of the lien. He then has what is practically the same as a first mortgage on the property and which has three years to run and bears interest at the rate he bid at the sale. The interest is payable semi-annually. If there is a default in the payment of interest, or in the payment of subsequent taxes or assessments on the property or if the principal is not paid at maturity the lien may be foreclosed by an action similar to an action for the foreclosure of a mortgage. By this method of enforcing the payment of taxes, assessments and water rates the City has been successful in obtaining the payment of the arrears. The only disadvantage that may be noticed about this method of enforcing payment of taxes is the fact that it has allowed certain people to purchase the tax liens, not for the purpose of making an investment at a fair rate of interest, but rather for the purpose of making a profit through charges for legal services in connection with the foreclosure of the liens. In an action to foreclose the lien the owner and all persons interested are made parties to the action, and must be served. This gives the owners notice and an opportunity to pay the liens, penalties, legal charges, and interest, and thus avoid actual sale of the property.