Citizens for john cherry issued the following announcement on March 4.
I am very pleased and proud that a bill I co-sponsored with my colleague, Rep. Wendell Byrd, will allow many Michigan homeowners struggling with property taxes to sign up for an affordable payment plan to help them stay in their houses.
The cleverly titled “Pay as You Stay” bill, signed into law on March 2 by Gov. Gretchen Whitmer, creates a program to permit foreclosing governmental units to reduce unpaid property taxes owed by homeowners who qualify for poverty exemptions.
Once a homeowner has enrolled, all interest, penalties and fees would be eliminated. The balance due would be limited to back taxes only or 10 percent of a home’s taxable value, whichever is less. The remaining balance would be paid back over three years at no interest.
The program is ongoing, so homeowners who qualify for full or partial property tax exemptions and enroll in future years would also be eligible. According to current poverty levels, income for a single-person household is capped at $19,303 and a family of four can’t earn more than $28,671 per year to be eligible for property tax exemptions.
For more information, or to see if you qualify for this program, please contact my office.
Original source here.
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