During the last full board meeting of the Oakland County Board of Commissioners on July 18th, Commissioner Bob Hoffman (R-Holly) introduced a resolution supporting the passage of Michigan House Bill (HB) 4219, which would amend the General Property Tax Act to allow homeowners facing foreclosure as the result of delinquent property taxes to retain any equity they may have in their home. The resolution was referred to the Legislative Affairs and Government Operations Committee.
Under the current law, the Oakland County treasurer has the authority to foreclose properties that are delinquent in the collection of property taxes. When a tax foreclosure sale takes place, the county collects all of the money raised by the sale. Not only does the county recover what is owed, but it is also legally permitted to keep the remaining equity.
HB 4219 would amend the current law to require the county to reimburse homeowners any proceeds of the sale of their property minus what is owed through liens and the tax foreclosure process. Homeowners must have claimed the property as their main residence prior to the foreclosure in order to qualify.
"Homeowners down on their luck shouldn't lose the equity they've built up in their home due to property tax foreclosure," said Hoffman. "Counties across the state should not benefit because of someone else's misfortune."
HB 4219 was referred to the House Local Government and Municipal Finance Committee.
Hoffman represents the 2nd county commission district, which includes the townships of Groveland, Highland, Holly, Rose and Springfield, and the Village of Holly. He can be contacted via email at hoffm2521@comcast.net.
For additional information about the Board of Commissioners, visit www.oakgov.com/boc or call 248-858-0100.
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