See an example of Local Government Debt Setoff in action.
NACo Debt Setoff Solution
Collecting outstanding balances from local residents—including property taxes—has been a costly, time-consuming, and unpleasant task for local governments. Until now.
Farragut worked with NACo Financial Services to launch their national Local Government Debt Setoff service—a program patterned after a successful joint venture between the North Carolina Association of County Commissioners and the North Carolina League of Municipalities which led to recovery of more than $240 million in unpaid taxes.
The Local Government Debt Setoff service enables counties to collect outstanding debts in a timely, cost-effective manner by submitting delinquencies for offset against pending state personal income tax refunds and lottery winnings. And since program operations are supported by a local collection assistance fee charged to the debtor, participating counties incur little if any additional collection costs.
Farragut worked with NACo Financial Services to launch their national Local Government Debt Setoff service—a program patterned after a successful joint venture between the North Carolina Association of County Commissioners and the North Carolina League of Municipalities which led to recovery of more than $240 million in unpaid taxes.
The Local Government Debt Setoff service enables counties to collect outstanding debts in a timely, cost-effective manner by submitting delinquencies for offset against pending state personal income tax refunds and lottery winnings. And since program operations are supported by a local collection assistance fee charged to the debtor, participating counties incur little if any additional collection costs.