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A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
In 2015, the Detroit Free Press reported that the Moroun family owned approximately 200 properties near the airport, many of which were purchased for as low as $500 at tax-delinquent property auctions. [20]
The local newspaper recently published a list of delinquent tax properties for our county, which painted a telling portrait of the local economy. The list, which takes up two thirds of a page and ...
Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
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He subsequently ran for and was elected Detroit City Treasurer in 1935. [1] As treasurer he helped keep tax-delinquent Detroiters in their homes through a seven-year tax payment plan. The move helped endear him to voters, and, after seven terms as treasurer, he was elected mayor in 1949. [4]
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