LANSING, Michigan — Mayor Mike Duggan has told a group of state lawmakers that the potential tax foreclosure of thousands of homes in Detroit would cause further harm to the city.
Duggan spoke Wednesday before members of the Senate Finance Committee sent one of two bills that would cut interest on back taxes to six percent to the full Senate for vote.
The Detroit Free Press (http://on.freep.com/1tFtrng ) says a companion bill is on the Senate floor. The two bills would let county treasurers give homeowners five years to pay back taxes and keep owed taxes at no more than 25 percent of the home's value.
The current interest on delinquent accounts is 18 percent.
Duggan says about 20,000 homes occupied by owners in Detroit face foreclosure next year.
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