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County treasurer reports strong yields, outlines foreclosure outreach and warns of tax-related scams
Summary
Ottawa County Treasurer Cheryl Clark reported higher-than-benchmark interest yields for February, provided portfolio allocation detail and urged residents with delinquent taxes to contact the treasurer's office to avoid scams and foreclosure; she said 331 parcels entered foreclosure/forfeiture last March 1 and 58 remain.
Ottawa County Treasurer Cheryl Clark told the Finance and Administration Committee that the county—s investment yield for February exceeded the benchmark and she outlined outreach plans for delinquent-property owners as the treasurer—s office prepares for foreclosure timelines.
Clark said the county—s general fund monthly interest yield for February was 3.5 (benchmark 0.57) and that certificates of deposit represented roughly 21% of the county—s investment portfolio, within the 50% maximum allowed by county investment policy. She said the treasurer—s office continues to monitor market moves, citing a PFM Asset Management briefing about recent downward movement in yields tied to weaker economic data and tariff concerns.
Clark warned about fraudulent scammers targeting homeowners with delinquent taxes, said the treasurer—s office issued a press release with the sheriff and prosecutor to raise awareness, and urged residents to contact the treasurer—s office early for help. She reported foreclosure-related figures: when properties rolled from forfeiture into foreclosure on March 1, 2024, there were 331 parcels; as of March 1 (year not specified in the meeting) that number was 60 and the treasurer said 58 remained as of the committee meeting.
Clark described the county—s foreclosure process: the county becomes owner of foreclosed properties and auctions them in two online sales (a minimum-bid auction that covers back taxes and fees, and a later no-minimum-bid auction that can leave the county covering shortfalls from the delinquent tax revolving fund). She said the treasurer is exploring programs and partnerships, including translating materials and connecting residents to nonprofits, to help homeowners avoid foreclosure. Staff also noted availability of translation services (Leop and sheriff—s department resources) for Spanish speakers.
Clark asked anyone aware of residents at risk of foreclosure to refer them to the treasurer—s office for assistance.
