Kent County Achieves 20-Year Low in Property Tax Foreclosures
GRAND RAPIDS, MI. (October 6, 2023) – The Kent County Treasurer’s Office announces its property tax foreclosure rate has hit a 20-year low. In 2023, the County experienced the lowest number of foreclosures in two decades, with only 13 properties being foreclosed due to unpaid taxes.
This accomplishment is particularly significant against the backdrop of a nationwide trend as foreclosures in the United State have been on the rise for the second consecutive year. A 2023 report from ATTOM ranks Michigan as one of the top three states with the highest foreclosure rate. According to the January 2023 U.S. Foreclosure Market Report, one in every 2,617 housing units in Michigan had a foreclosure filing with the state, ranking third behind Delaware and Illinois.
“Tax foreclosure is a tragedy for families, businesses, and property owners alike. That’s why my office is dedicated to taking comprehensive measures to assist all those involved in avoiding such a situation,” said Kent County Treasurer Peter MacGregor. “The remarkably low number of foreclosures we’ve achieved underscores the unwavering commitment of my team to support individuals in retaining their properties.”
Property tax delinquency involves a three-year process. Parcels become delinquent March 1 the year after being assessed. In the second year of delinquency, parcels are forfeited, with added fees and retroactive interest from March 1 of the first year. If property taxes remain unpaid by March 31 in the third year of delinquency, foreclosure occurs.
Resources are available to assist property owners before their parcels become delinquent. A few of the resources provided by the Kent County Treasurer’s Office include bilingual materials, conducting property visits, offering hardship extensions for up to one year, collaborating with community organizations that can provide financial assistance, and developing manageable payment plans.
As a result of the expanded outreach and foreclosure prevention efforts by the Treasurer's Office, 99 percent of potential tax foreclosures have been prevented. It is important for property owners to proactively explore the available resources to address tax-related concerns and avoid the risk of delinquency.
“We’re here to help residents navigate the challenges of tax delinquency and foreclosure," concluded MacGregor. “Please reach out to us, and together, we can look for solutions to keep you in your home and protect your property.”
If anyone is experiencing property tax delinquency or forfeiture, they are encouraged to contact the Kent County Treasurer's office at 616-632-7500.
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