LANSING – When given a chance to catch up on delinquent property taxes or lose their land to foreclosure, 90% pay, according to Oakland County Treasurer Andy Meisner.
At least that has been the experience of treasurers using foreclosure avoidance agreements for residential property.
Now, Rep. Kelly Breen (D-Novi) is proposing to extend the program to commercial property in HB 4496. The House Local Government and Municipal Finance Committee took testimony on that bill Wednesday.
“This is a win-win,” Breen said. “It allows a county to recoup its delinquent taxes. It allows property owners to keep their property. There are several counties that are using similar arrangements for owners of residential properties, but not commercial. We all know that this pandemic has hit businesses hard and this bill would give county treasurers another tool in their toolbox to help keep these struggling businesses afloat.
This story was published by the Small Business Association of Michigan.