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PUBLIC ACT 123 - PROPERTY FORECLOSURE TIMELINE1999 PROPERTY TAXES
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| July/December
1999: 1999 property taxes billed by city or township
treasurer. March 1, 2000: Unpaid 1999 property
taxes are forwarded to county treasurer for collection.
County treasurer adds a 4% administration fee and 1%
per month interest. October 1, 2000: County treasurer
adds $15 fee to each parcel. March 1, 2001: Property is forfeited
to county treasurer. County treasurer adds a $175 fee.
Interest increased from 1% per month to 1.5% per month,
back to the date the taxes became delinquent. March 1, 2002-March 10, 2002: Circuit
court enters a judgment of foreclosure. From the date
of this judgment, property owners have only 21 days
to pay the taxes or lose their property. March 22, 2002-March 31, 2002: Clear
title to the property passes to the county or state. July, 2002: Property is sold at public
auction. |
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