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Finance reports progress on MRAM foreclosure list; county recognizes fees only, not sale proceeds
Summary
Tompkins County finance staff told the committee on Jan. 9 that 66 properties remain in the MRAM foreclosure process (down from 97) and that the county recognizes only recoverable fees, not full sale revenues, per a recent court ruling.
Laurie Skerritt, Tompkins County director of finance, updated the Budget, Capital and Personnel Committee on Jan. 9 about the county’s property‑tax foreclosure (MRAM) process and the accounting treatment of resulting funds.
Key points: Skerritt reported there are 66 properties currently in the foreclosure process; the county began with 97 on Oct. 1. As of the meeting, 35 installment agreements…
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