Cuyahoga County faces an unprecedented $60 million-plus in unpaid property taxes this year — threatening local revenue and health and human services’ needs. That’s prompted a proposed sale of up to $40 million in delinquent lien certificates to NAR Solutions, with proceeds split 61% to school districts, 22% to the county, 12% to municipalities and 5% to libraries.
The proposal, now before County Council, would require that NAR offer repayment plans. Property owners in historically red-lined, poor and health-challenged neighborhoods would be excluded (about 46% of the county’s population).
County notices were expected to start going out to impacted homeowners late last week, cleveland.com reported, “giving residents about a month to either pay their taxes or set up a payment plan before the county sells the liens to NAR on Nov. 14, if council approves.”…