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County Treasurer Reports Surge in Foreclosures Amid Tax Hikes

June 21, 2024 | Cass County, Michigan



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

County Treasurer Reports Surge in Foreclosures Amid Tax Hikes
During the recent government meeting, Treasurer Anderson presented the annual foreclosure report, highlighting significant trends in delinquent taxes and property foreclosures within the county. The report revealed that the county advanced over $5.8 million for 4,185 parcels, a decrease of 22 parcels from the previous year, but with an increase in costs amounting to $838,000. This reduction in parcels is attributed to the county's efforts to assist homeowners through the \"my half\" program, which provided $2 million in aid, including $1 million specifically for delinquent taxes.

Anderson noted that 2023 marked the first time in 28 years that property tax values increased by the maximum allowable rate of 5%, a trend driven by inflation. This increase has resulted in back-to-back hikes in taxable values, impacting the financial landscape for homeowners.

The report also detailed the foreclosure process, indicating that most homeowners typically pay their delinquent taxes within two years. This year, the total number of foreclosures was reported at 28, significantly lower than in 2019. Of these, 27 involved vacant or abandoned properties, with many owners opting to relinquish their interest due to various reasons, including the properties being unbuildable or the owners' lack of interest.

The treasurer emphasized that the foreclosure process serves to clean up property titles, particularly in cases where owners are deceased or where there are no heirs willing to manage the properties. The board of commissioners will have the opportunity to vote on the purchase of tax-reverted properties at their next meeting, scheduled for July 11, with no recommendations for purchases from Anderson at this time.

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