To: Martin L. Cousineau, Finance Committee Chairperson
From: Deborah L. Cherry, Treasurer
title
RE: Forwarding to receive and file a copy of the 2022 Foreclosure Sales Report as required by MCL 211.78m(8)(i)
recommendation
BOARD ACTION REQUESTED:
Acceptance of the September 30, 2024, report of 2022 foreclosure sales as required by MCL 211.78m(8)(i).
BACKGROUND:
The Treasurer's office serves as the foreclosing governmental unit (FGU) for Genesee County with regards to delinquent property taxes. MCL 211.78m(8)(i) requires the FGU to submit to the County Board of Commissioners no later than September 30 of the second calendar year after foreclosure, a report identifying any remaining balance relating to foreclosed property.
DISCUSSION:
Genesee County does not generally recover all costs associated with the property foreclosed on by the Treasurer's office through sales. Any taxes not recovered through auction sales or purchases by cities, townships, and Genesee County Land Bank are recovered from the taxing jurisdictions through a chargeback during the yearly settlement process of delinquent taxes from the cities, townships and village. This report identifies the total amount that was recovered through settlement.
IMPACT ON HUMAN RESOURCES:
The is no impact on human resources
IMPACT ON BUDGET:
There is no impact on the budget
IMPACT ON FACILITIES:
There is no impact on facilities
IMPACT ON TECHNOLOGY:
There is no impact on technology
CONFORMITY TO COUNTY PRIORITIES:
Long term financial stability is the primary priority of the Treasurer's office and this report provides the Board an idea of the amount of taxes recovered from the taxing jurisdictions every year due to foreclosures.
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF THE GENESEE COUNTY BOARD OF COMMISSIONERS, GENESEE COUNTY, MICHIGAN
LADIES AND GENTLEMEN:
BE IT RESOLVED, that this Board of County Commissioners of Genesee County, Michigan, hereby accepts th...
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