Michigan HB4741 modifies delinquent tax payment reduction and foreclosure avoidance programs.

Michigan HB4741 amends sections 78g and 78q of the Michigan Compiled Laws to modify certain delinquent tax payment reduction and foreclosure avoidance programs. The bill allows foreclosing governmental units to reduce delinquent taxes by up to 10% for eligible properties. It also permits the creation of delinquent property tax installment payment plans for financially distressed individuals, allowing them to avoid foreclosure if they complete the plan.

Michigan HB4741 modifies delinquent tax payment reduction and foreclosure avoidance programs.

Michigan HB4741 amends sections 78g and 78q of the Michigan Compiled Laws to modify certain delinquent tax payment reduction and foreclosure avoidance programs. The bill allows foreclosing governmental units to reduce delinquent taxes by up to 10% for eligible properties. It also permits the creation of delinquent property tax installment payment plans for financially distressed individuals, allowing them to avoid foreclosure if they complete the plan.