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<br />ĂďĂƌƌƵƐŽƵŶƚLJdĂdž&ŽƌĞĐůŽƐƵƌĞWƌŽŐƌĂŵWĂŐĞϮ
<br />
<br />
<br />Letter, a title search is initiated. The title search can take between 60-90 days to complete. The
<br />complaint filing and judgment is the next step and averages 120 days. The sale of the property
<br />usually takes 30 days to complete (including the upset bid period) and the Closing will be 30-45
<br />days after the completed sale. Some properties may move at a slower pace, dependent on
<br />contact being made with owners. This is an average timeframe and is not guaranteed. The
<br />taxpayer has the opportunity at any time during the process to stop the foreclosure by paying
<br />the taxes and fees.
<br />
<br />The following Chart documents the activity in our foreclosure program over the past five years:
<br />
<br />Accounts Worked
<br />ϮϬϭϭͬϮϬϭϮϮϬϭϬͬϮϬϭϭϮϬϬϵͬϮϬϭϬϮϬϬϴͬϮϬϬϵϮϬϬϳͬϮϬϬϴdŽƚĂů
<br />Letters
<br />1,6216599611,052680ϰ͕ϵϳϯ
<br />Tax OfficeVolume
<br />$4,307,452.00$3,111,430.92$2,277,398.74$2,084,990.29$942,185.29ΨϭϮ͕ϳϮϯ͕ϰϱϳ͘Ϯϰ
<br />Amount
<br />24420527525711ϵϵϮ͘ϬϬ
<br />Rich KochVolume
<br />$784,337.26$1,120,898.77$1,210,498.38$613,956.98$306,016.15Ψϰ͕Ϭϯϱ͕ϳϬϳ͘ϱϰ
<br />Amount
<br />Sent to Attorney
<br />02140109ϭϮϱ͘ϬϬ
<br />M & AVolume
<br />$0.00$30,506.70$1,046,978.61$0.00$196,411.15Ψϭ͕Ϯϳϯ͕ϴϵϲ͘ϰϲ
<br />Amount
<br />103143106ϯϱϮ͘ϬϬ
<br />ZLSVolume
<br />254086.95471911.31317100.34Ψϭ͕Ϭϰϯ͕Ϭϵϴ͘ϲϬ
<br />Amount
<br />Taxes Recovered
<br />CollectionsϮϬϭϭͬϮϬϭϮϮϬϭϬͬϮϬϭϭϮϬϬϵͬϮϬϭϬϮϬϬϴͬϮϬϬϵϮϬϬϳͬϮϬϬϴdŽƚĂů
<br />$1,271,923.94$1,484,284.53$923,185.70$1,078,403.64$975,053.74Ψϱ͕ϳϯϮ͕ϴϱϭ͘ϱϱ
<br />Letters Office
<br />$18,841.98Ψϭϴ͕ϴϰϭ͘ϵϴ
<br />10 Day
<br />$656,864.55$947,598.37$816,784.50$316,624.68$246,551.69ΨϮ͕ϵϴϰ͕ϰϮϯ͘ϳϵ
<br />Koch
<br />$0.00$102,447.96$97,748.37$236,989.12$84,042.45ΨϱϮϭ͕ϮϮϳ͘ϵϬ
<br />M&A
<br />$286,479.22$650,792.85$167,896.77Ψϭ͕ϭϬϱ͕ϭϲϴ͘ϴϰ
<br />ZLS
<br />13470ϭϱ͘ϬϬ
<br />SalesVolume
<br />$2,311.61$10,001.52$0.00$0.00$0.00ΨϭϮ͕ϯϭϯ͘ϭϯ
<br />Amount
<br />ΨϮ͕Ϯϯϲ͕ϰϮϭ͘ϯϬΨϯ͕ϭϵϱ͕ϭϮϱ͘ϮϯΨϮ͕ϬϬϱ͕ϲϭϱ͘ϯϰΨϭ͕ϲϯϮ͕Ϭϭϳ͘ϰϰΨϭ͕ϯϬϱ͕ϲϰϳ͘ϴϴΨϭϬ͕ϯϳϰ͕ϴϮϳ͘ϭϵ
<br />Total Recovery
<br />
<br />
<br />Note that over the past five years the program has generated in excess of 10 million dollars of
<br />delinquent taxes from 4,973 properties. 84.20% of collections have come from the foreclosure
<br />letters, 15.68% from the actions of the foreclosure attorneys and .12% from the actual sell of
<br />property. Out of 4,973 properties only 15 properties have actually been sold. Clearly
<br />foreclosure is an effective tool to use when all avenues to collect the taxes have failed.
<br />
<br />Under the current program we are sending 50 accounts to ZLS each quarter. When we started
<br />the current program we had a large backlog of properties that were candidates for foreclosure.
<br />So we made it our policy to first work properties that were not owner occupied. We have now
<br />run out of non-owner occupied properties that are good candidates for foreclosure and now
<br />must move forward with foreclosure on owner occupied properties.
<br />
<br />G-1Page 185
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