Michigan lawmaker tries to pass new foreclosure tax law
According to The Detroit News, a state representative plans on introducing legislation that will force foreclosure buyers to pay property taxes in advance, helping weed out tax scofflaws.
“These people aren’t doing anything with the properties,” said Cavanagh, who unsuccessfully campaigned for Wayne County treasurer in 2008. “Just selling it for the sake of selling it could be detrimental.
Buyers who intend to live in homes they purchased wouldn’t be affected by the bill, Cavanagh said. Everyone else would be required to put the amount of taxes in an escrow account managed by the county treasurer’s office.