could Owners lose 10,000 properties
Wayne County looking for overdue tax payments today
BY ZACHARY GORCHOW FREE PRESS STAFF WRITER
http://www.freep.com/apps/pbcs.dll/article?AID=/20060331/NEWS05/603310351
Delinquent 2003 Property Taxes
William Coon was one of many Wayne County residents Thursday who packed the county treasurer's office trying to meet today's deadline for paying delinquent 2003 property taxes to avert foreclosure. If more don't pay, the county could own a record number of properties. Like it or not, by law county treasurers across the state take ownership of any property in their jurisdiction if the owner hasn't paid 2003 property taxes before the close of business today. And in Wayne County, the number of potential foreclosures is more than double what it was at last year's deadline for 2002 bills.
Where Foreclosure Risk Occurs
As of Wednesday morning, the most recent count available, 10,284 properties in the county had delinquent 2003 taxes, including 2,237 occupied residences. The properties are spread though each of the county's 43 municipalities except Northville Township. The Wayne County numbers dwarf the potential foreclosures in Macomb and Oakland counties. As of Thursday, 36 Macomb and 509 Oakland property owners hadn't paid their 2003 taxes.
Why the Sharp Rise?
There are many reasons for the sharp rise in properties with unpaid taxes in Wayne County, said Terrance Keith, chief deputy treasurer. A big one is that the 2003 tax year was the first when delinquent taxes in Detroit were forwarded to the county for collection. Of the over 10,000 Wayne County properties at risk for foreclosure, 9,185 are in Detroit. There's also the economic climate in the county. Its unemployment rate in February was 8.1%, worse than neighboring Oakland's 5.6% and Macomb's 6.8%. Plus, the number of abandoned properties in Detroit rose 2003.
Where?
in The number of potential foreclosures in Macomb County is about the same as in 2005, but the number is up by more than 100 in Oakland, Chief Deputy Treasurer Keith Sawdon said. Real estate agents are increasingly coming across homes in foreclosure, for tax or mortgage reasons. Chris Cotzias, broker and owner of RE/MAX in the Pointes, said about 60 of the 630 homes for sale in the Grosse Pointes are in foreclosure.
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