MI SB0632

Reduces the interest rate on delinquent property taxes from 1% per month to 1/2% per month (noncompounded), computed from the date taxes originally became delinquent.

Removes an additional 1/2% monthly interest requirement that was previously imposed on forfeited property from March 1 preceding forfeiture until redemption.

Maintains the 4% county property tax administration fee on delinquent taxes and keeps the $175.00 fee added per parcel when property is forfeited to the county treasurer.

Preserves existing redemption procedures allowing property owners to redeem forfeited property by paying all unpaid taxes, interest, penalties, fees, and recording costs within specified timeframes.

Keeps provisions allowing foreclosing governmental units to provide environmental contamination information to the Department of Environmental Quality for forfeited properties.