Wayne County Treasurer Stipulated Payment Agreement: What You Need to Know
The Wayne County Treasurer stipulated payment agreement is a program designed to help delinquent taxpayers in Wayne County, Michigan avoid foreclosure. The program allows taxpayers to make payments on their back taxes over a period of time, usually six months to two years, depending on the amount owed.
Under the stipulated payment agreement, taxpayers are required to make a down payment of at least 10% of the total amount owed. They are then required to make monthly payments, which are typically based on their income and expenses. The monthly payments must be made on time, and failure to do so may result in the agreement being terminated and foreclosure proceedings starting.
To be eligible for the stipulated payment agreement, taxpayers must meet certain criteria. They must be the owner of the property that owes back taxes, and the property must be their primary residence. The property cannot be a commercial or rental property. Additionally, taxpayers must not have any outstanding code violations or owe any other back taxes to the county.
The Wayne County Treasurer`s office has reported that the stipulated payment agreement program has been successful in helping taxpayers avoid foreclosure. Since the program`s inception in 2015, over 3,000 taxpayers have participated, and the foreclosure rate has dropped significantly. The program has also helped to generate revenue for the county`s general fund.
It`s important for delinquent taxpayers to take advantage of the stipulated payment agreement if they are eligible. Failure to pay back taxes can result in foreclosure, which can have a devastating impact on families and communities. The stipulated payment agreement offers a way for taxpayers to get back on track and keep their homes.
In conclusion, the Wayne County Treasurer stipulated payment agreement is a valuable program that can help delinquent taxpayers avoid foreclosure and keep their homes. Taxpayers who are eligible should take advantage of this program to get back on track with their taxes and avoid the devastating consequences of foreclosure.