MI HB5421

Property forfeited to county treasurer for delinquent taxes of 12 months or more is subject to an added $175.00 fee per parcel, with fees transmitted to the land reutilization fund within 30 days of collection.

County treasurer must record a certificate of forfeiture with the register of deeds within 45 days, with absolute title vesting in the county treasurer on March 31 following judgment or 21 days after judgment in contested cases.

Property may be redeemed before March 31 (or 21 days after judgment in contested cases) upon payment of delinquent taxes, interest, penalties, fees, and additional interest at 1/2% per month computed from March 1 preceding forfeiture.

For residential principal residences with tax foreclosure avoidance agreements in effect, additional interest is waived and replaced with standard 1/2% monthly interest computed from the original delinquency date, with the property withheld from foreclosure petition.

Before July 1, 2016, foreclosing governmental units may reduce redemption amounts to 50% of state equalized valuation for properties in compliance with installment payment plans or foreclosure avoidance agreements, with remaining unpaid amounts canceled by the county treasurer.