Numbers for Next Year's Tax Auction Are Already Frightening

Wayne County is already planting the seeds for next year's tax auction. Nearly 62,000 Detroit properties (75,000 countywide) are already swirling in the toilet bowl o' foreclosure, with total unpaid taxes adding up to $326.4M. Many imperiled properties will escape foreclosure as owners make arrangements in coming months, but the huge number of properties involved (a 34% increase from 2014) indicates that next year's auction could be HUGE. Loveland Technologies, the auction data specialist, estimates that over half of the distressed Detroit properties are currently occupied.
· Wayne County Begins Round Of Tax Foreclosures [CBS]