Wayne County is foreclosing on most of the foreclosed properties it previously sold in tax auctions. There's a reverter clause for auction buyers: basically if you buy a property in the tax auction and then don't pay taxes on it then Wayne County will take it back from you. And now that seems to be happening to 78% of the residential and commercial properties sold in the tax-foreclosure auctions since 2011. Last June, the Wayne County treasurer filed a lawsuit to collect about $80M in delinquent property taxes. As the Wayne County tax auction starts another round of bidding tomorrow, we though you would-be bidders should know.
· Wayne County sues to collect back taxes on properties it once sold at tax-foreclosure auctions [Michigan Radio]
· Tax Auction Kicks Off Again On Thursday With 18,201 Properties [Curbed Detroit]
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