To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Approval to accept Form 5840 Foreclosing Governmental Unit Report of Real Property Foreclosure Sales for 2023 foreclosure sales
recommendation
BOARD ACTION REQUESTED:
Acceptance of Form 5840, Foreclosing Governmental Unit Report of Real Property Foreclosure Sales as required under MCL 211.78m(8)(i) for 2023 foreclosure sales.
BACKGROUND:
The Treasurer serves as the Foreclosing Governmental Unit (FGU) for Genesee County with regards to delinquent property taxes. MCL 211.78(8)(i) requires the FGU to submit a report to the Board of Commissioners no later than September 30 of the second calendar year after the foreclosure. The report should identify any remaining balance related to the foreclosed property.
DISCUSSION:
Genesee County holds auctions every year to sell foreclosed property. The county generally does not sell all property, therefore, all costs associated with foreclosed property is not recovered by the Treasurer's office. Any taxes not recovered as part of the auction or by sales to the city, township, village or a city/county authority are recovered from the taxing jurisdictions by means of a chargeback during the yearly settlement of delinquent taxes. The report for 2023 foreclosures is consistent with prior years, and the county did not recover all taxes.
IMPACT ON HUMAN RESOURCES:
The request does not have any impact to Human Resources.
IMPACT ON BUDGET:
The request does not impact the budget as any uncollected taxes are a chargeback to the taxing jurisdiction. This chargeback is taken into consideration as the yearly budgets for the county millages are prepared.
IMPACT ON FACILITIES:
The request has no impact on facilities.
IMPACT ON TECHNOLOGY:
There is no impact to technology.
CONFORMITY TO COUNTY PRIORITIES:
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF THE GENESEE COUNTY BOARD OF COMMISSIONERS, GENESEE...
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