- Associated Press - Thursday, September 1, 2016

DETROIT (AP) - Detroit has followed through on its threat to sue hundreds of financial institutions and other companies in an attempt to recoup $12.2 million in unpaid property taxes.

The city last month announced its plans to sue to get the money it says is owed from 2010-12 on more than 1,500 parcels of land. The Detroit News reports (http://detne.ws/2bVeXCM ) the filings came as Wednesday was the deadline for Detroit to sue.

Detroit Treasurer and Deputy Chief Financial Officer David Szymanski says a handful of businesses agreed to try to negotiate a settlement but more than 550 lawsuits were moving forward.

The city has said it only was going after companies that own property for profit and not individuals with fewer than three properties.

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Information from: The Detroit News, http://detnews.com/

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