7/23/14 - A land sale by Tyrone Township has eliminated some back taxes while making the municipality some extra money. The property consists of 43 acres on US-23 north of White Lake Road. It went to tax sale last fall after three years of being delinquent, and the township bought it for $65,000. Clerk Keith Kremer says buying the land ensured that it would not go into delinquency under new owners, which would add to the $300-400,000 in lost taxes from its special sewer assessment. Last week, the township closed on a deal to sell the property for $700,000. With the cost of the property and its back taxes paid, the extra money will go into the townshipâs fund balance. Kremer tells WHMI the land is zoned for commercial development, but it is not clear whether they plan to develop or resell the property. Kremer adds that the township was able to refinance its sewer bond debt last year, reducing interest payments by about $450,000. Combined with the revenue from the sale, he estimates that the township is one or two years ahead in its 20-year plan to eliminate that debt. (TD)
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