2014 Property Tax Foreclosure Time Frame

2014 Property Tax Foreclosure Time Frame

The following is a time frame for 2014 Property tax foreclosure process:

• July/December 2014: 2014 property taxes billed by city, township or county treasurer.
• March 1, 2015: Unpaid 2014 property taxes are forwarded to county treasurer for collection. State law requires a 4% administration fee and 1% per month interest. (12% per year!)
• October 1, 2015: A $15 fee is added to each parcel.
• March 1, 2016: Property is forfeited to county treasurer. State law requires the addition of a $175 fee and $26 in recording fees. Interest increased from 1% per month to 1.5% per month, back to the date the taxes became delinquent. (18% per year!)
• June 2016 - January 2017: All owners and lienholders are identified and contacted through title research, and personal visits are made to taxpayers.
• January & February 2017: Show cause hearings are held, giving taxpayers a chance to appeal foreclosure.
• March 1, 2017: Circuit Court enters a judgment of foreclosure. Property owners may redeem their property by paying the taxes, interest, and fees by March 31st or lose their property.
• April 1, 2017: Property is foreclosed. Property owners lose all rights. Title to the property passes to the county treasurer.
• September & October 2017: Property is sold at public auction.

Please note that this timeframe is for 2014 taxes only