HomeMy WebLinkAboutResolutions - 1970.03.05 - 16500March 5, 1970
RESOLUTION NO
RE: HOUSE BILL 3730
INTEREST RATE ON DELINQUENT TAXES
BY LEGISLATIVE COMMITTEE Mr. Nmell
TO: OAKLAND COUNTY BOARD OF SUPERVISORS
MR. CHAIRMAN, LADIES (Q.f. CMTLMEN:
WHEREAS ' l_oe Bill 370 provides an increase in the interest
rate chod on delinquent taxes from one-hal:r (1/2) of one (1) nor
cent to three-quarters(3/10 of one (I) per cent per month; and
WHEREAS House Bill 3730 is an attempt to alleviate a serious
- problem resulting from the failure of some large property owners,
in all areas of the State, to pay their taxes on time but choose
to pay a delinquent tax penalty at the rate of six (6) percent
ner year rather than diverting a portion of their capital which
can be invested at a greater rate of return than six (6) percent
per year; and
WHEREAS an across-the-board increase in the penalty rate
would work hardship on smaller tax payers who are unable to pay their
taxes on time because of economic conditions;
NOW THEREFORE BE IT RESOLVED that the Oakland County Board
of Supervisors supports the intent of House BM 3730 insofar as
it increases the penalty of those who deliberately del' - payment
of taxes; and
BE IT FURTHER RESOLVED that the Oakland County Board of
Supervisors recommends to the Legislature of the State of Michigan
53 02
move the adoption of the foregoing resolution,
:...XGISLATIVE COMMITTEE
44b
aristian well, Chairman
William L. M
)
that the interest rate on delinquent taxes be established on the
following scale:
Delinquent Taxes in the amount of
- $999.99 -- 112 of 1% per month
$1,000.00 - $19,999.99 -- 3/4 of 1% per month
$20,000.00 - and over -- 1% per month.
KR. CHAIRMAN, on behalf of the Legislative Committee, I
ion he
dn 1:Qiiowed.
;-.;.-.;.f1:icient majority having voted tncreg.[.or, the resolution
adopted