
The Property Tax System is Broken—Regrid Works on Tools to Help Fix It
The Strong Towns Podcast
00:00
The Charge Back in Michigan
The charge back is a reference to this mechanism inside the tax foreclosure and tax delinquency system in Michigan. The county treasurer cuts a check to those cities for whatever was uncollected in property taxes, the prior year. As properties are in delinquency, these county treasurer assess 18% interest on your delinquent property taxes. They sell bonds to finance all of this at about 3 or 4%. So that difference is pure profit to the county treasurer.
Transcript
Play full episode