Revolving Account
Revolving Account
Synopsis:
A Revolving Account refers to fees paid by the County in advance of redemption or tax deed proceedings, which are later reimbursed through redemption payments or the sale of the property. This account may be maintained as a separate bank account, a budget line item within the general fund, etc.
Key Aspects:
- Purpose: Allows the County to front required costs associated with tax sale and tax deed processes.
- Reimbursement: Fees are recovered through redemption or property disposition.
- Flexible Structure: May be a separate bank account, budget line item in the general fund, etc.
- Variety of Costs: Covers multiple statutory-related fees.
- Inter-Office Management: Managed by Treasurer or County Clerk
County Procedures:
- Pay Applicable Fees – the Treasurer generally pays upfront costs
- 22-5 Notice: certified postage cost and there is a $10 Clerk fee applied to every parcel
- Tax Deed Petition: publication, sheriff service, regular and/or certified mail are all costs associated with this process plus there is a recording fee
- Track Expenditures (both Clerk and Treasurer)
- Maintain detailed records tied to parcel/certificate
- Post Fees to Judgment Book – County Clerk responsibility
- Record reimbursable fees accurately
- Coordinate end of month disbursement done by either the Clerk or Treasurer, depending on the county structure
- Collaborate with Treasurer/Clerk to manage and reconcile
- Recover Funds
- Collect reimbursement through redemption or sale
JEM Procedures:
- Provide Posting Sheets
- Assist with posting fees to judgment book
- Confirm Fee Tracking
- Support accurate parcel association
- Ongoing Support
- ๏ปฟAssist with questions and reconciliation
Additional Key Aspects:
- Accuracy is critical to ensure proper reimbursement
- Most recovery occurs at redemption
- Requires careful tracking of multiple fee types
- ๏ปฟCoordination between offices is essential
View Treasurer/Collector Job Aids
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