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Chapter 704: Delinquent Tax Anticipation Notes (DTAN)/Delinquent Tax and Assessment Collection (DTAC)

Section 704.01 Additional DTAC Fee

Pursuant to and in accordance with Section 321.261(B) of the Ohio Revised Code and subject to the other provisions of this Chapter, this Council hereby designates the Additional DTAC Fee in the annual amount of five percent (5%) to be applied on all collections of delinquent real property, personal property and manufactured and mobile home taxes and assessments solely for the use of the Corporation as part of its annual base funding, commencing on January 1, 2014 and continuing through December 31, 2018.

(Ordinance Nos. O2013-0019, Enacted 10/8/2013, Effective 10/10/2013; O2012-0022, Enacted 9/25/2012, Effective 10/26/2012; O2011-0041, Enacted 11/9/2011, Effective 12/10/2011;)  

Section 704.02 Maximum Base Funding

Notwithstanding the provisions of Section 704.01 of the Cuyahoga County Code, the aggregate amount transferred to the Corporation from the DTAC Fund and the penalties and interest on current late and delinquent taxes and assessments deposited into the County Land Reutilization Fund in any single fiscal year of the Corporation shall not exceed $7,000,000.00 (the “Maximum Annual Base Funding Amount”). 

(Ordinance Nos.O2013-0019, Enacted 10/8/2013, Effective 10/10/2013; O2012-0022, Enacted 9/25/2012, Effective 10/26/2012; O2011-0041, Enacted 11/9/2011, Effective 12/10/2011;)  

Section 704.03 Deposit and Appropriation of Additional DTAC Fee

All amounts constituting the Additional DTAC Fee shall be deposited in the DTAC Fund, and such amounts upon their deposit in such fund, subject to the provisions of Section 704.02 of the Cuyahoga County Code, are hereby appropriated for the sole use of the Corporation and shall be disbursed to the Corporation upon warrant of the Fiscal Officer of the County (the "Fiscal Officer").

(Ordinance Nos.O2013-0019, Enacted 10/8/2013, Effective 10/10/2013; O2012-0022, Enacted 9/25/2012, Effective 10/26/2012; O2011-0041, Enacted 11/9/2011, Effective 12/10/2011;)  

Section 704.04 Replacement of DTAN

The issuance of DTAC funds under this Chapter shall be contingent upon the County Treasurer not electing to recommend issuance of DTAN advances pursuant to Sections 321.341 and 133.082 of the Ohio Revised Code.  Should DTAN advances be issued, the additional 5% DTAC fee under this Chapter shall no longer be applied.    

(Ordinance Nos. O2012-0022, Enacted 9/25/2012, Effective 10/26/2012; O2011-0041, Enacted 11/9/2011, Effective 12/10/2011;)