Q1: What are tax overages?

Q2: Is the county obligated to inform the previous property owner about the excess proceeds?

Q3: What happens if the previous property owner doesn't claim the excess proceeds within a specific timeframe?

A1: Tax overages are also referred to as excess funds or surplus funds in different states.  Overages represent the remaining funds that are payable to the previous owner when a tax foreclosure auction occurs and the property sells for a greater amount than the taxes due.

A2: No, the county is not obligated to inform the previous property owner, and they may make a minimal effort to notify them by sending a first-class letter to the foreclosed address.

A3: In most cases the funds are given tothe state. Currently, states, federal agencies and other organizations collectively hold more than $58 billion in unclaimed funds and benefits.  

Q4: Why don't people claim their tax overages themselves?

A4: Claiming tax overages is a lengthy process that requires going through the proper channels in court and often requires an attorney to file paperwork. Additionally, people may not even be aware that the funds exist

Q5: How does the Tax Overage Recovery Office help?

A5: The Tax Overage Recovery Office notifies receiving parties of overage funds, provides education on the process of acquiring overage funds as well as pursue overages on behalf of claimants.

Q6: Why should individuals peruse overages?

A6: Recovering tax overages can provide some extra cash to people who may have lost everything due to unpaid taxes. It can be extremely impactful during hard times or what's needed to get ahead.