Delinquent Tax Borrowing Gets Initial OK
In an annual action to help the cash flow of local governments in Washtenaw County, the county board of commissioners gave initial authorization to county treasurer Catherine McClary to borrow up to $30 million against the amount of delinquent property taxes in all of the county’s 80 taxing jurisdictions. The action took place at the board’s March 19, 2014 meeting, with a final vote expected on April 2.
It’s a standard practice to help the local jurisdictions manage their cash flow. The estimated amount of delinquent taxes is lower than in recent years, possibly reflecting a recovering economy. Last year, the board authorized borrowing up to $40 million. [.pdf of delinquent tax resolution]
After March 1, taxing jurisdictions – including cities, townships, … [Full Story]