FULTON, Miss. (AP) - Itawamba County Chancery Clerk Jim Witt has reimbursed the family of local investor Don Coker a total of $29,288 that Coker’s family invested in several dozen delinquent tax parcels purchased over a three-year period.
Fulton attorney Chip Mills, who represented the Coker family, tells the Itawamba County Times (https://bit.ly/1neVcoI) the amount reimbursed was mutually agreed upon by both parties.
When a resident fails to pay property taxes for a given year, the taxes can be put up for sale.
Investors will pay off these taxes, basically buying them, in return for a percentage-based fee once the landowner pays what is owed to the county. The investor’s money is placed in an escrow account overseen by the chancery clerk’s office.
Coker says he got no money when that was done.
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Information from: Northeast Mississippi Daily Journal, https://djournal.com
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