Anyone who is experiences issues with delinquent property taxes should know a few vitally important things heading into the next few months. The information presented is important for anyone living in the city of Detroit. Even if the information does not apply to your situation currently it can be useful for a friend or if you anticipate being able to personally benefit from the information presented. For the sake a clarity we will use bullet points to highlight issues home owners should know.
- Any outstanding tax debts paid after the first of March will be considered delinquent.
- The county charges 1.5% monthly interest by state law and payments must be made to the Delinquency Tax Revolving Fund Program.
- After one year the property enters forfeiture.
- After two years of nonpayment the Circuit |Court puts the property in foreclosure.
- The county expects payment by the end of March, also called redemption right, and properties are sold in September and October.
- Minimum bid includes amount of delinquent taxes, interest and penalties.
- Outside of delinquency property taxes are due in July and December each year.
- Payments can be made in person, by mail, online, and automatic withdraws from an account.
- Register of Deeds is located in the downtown area between Brush and Beaubien at 400 Monroe St. In that building it is located on the 7th floor
Another bit of important information is to keep your eyes open for commercials on the local news networks. The county treasurer has been airing commercials urging people to seek assistance if they need it. From an economic standpoint it is not good for the county or city to foreclose on a property. Foreclosing on a property disrupts a community and erodes the tax base which is an unnecessary burden county officials try to avoid.
One of the bright spots for home buyers is that the average home value ranges from $55,800 to $55,800. Default rates have a major impact on home prices which contributes to the low home prices. The process of owning a home and complicated, especially for first time homeowners, but you do not have to go through it alone. Family Tree has the knowledge and experience to help steer people through the complexities involving homeownership. We can be reached by phone at (313) 962-2329 or fax at (313)557-4049. Our address is 615 Griswold, Suite 1709, Detroit, Michigan 48226.