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County seeks lost revenue
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Warren County commissioners are attempting to cash in on $192,000 in unclaimed money.

“This is the Unclaimed Property Act,” said Myra Mara, Warren County Clerk & Master. “We have money for different reasons but most of this is from either a delinquent tax sale or if we are holding money that’s part of an estate where the heirs are unknown or their addresses are unknown.”

If the county attorney is unable to find the rightful owners or their next of kin, the money is turned over to the Tennessee Department of Treasury. The state’s Unclaimed Property Division also attempts to find the owner or next of kin.

If the state’s attempts are unsuccessful, the money is deemed abandoned. Mara said the state is holding approximately $192,000 that county commissioners can request be turned over to Warren County.

The county’s Financial Management Committee met to consider a resolution to do just that.

“I’d like to put this resolution on the November docket for us to approve,” said County Executive Jimmy Haley, committee chair. “This will allow Myra to go after those dollars. For some reason, we haven’t done it since 2001. We can only go back seven years, not including the last 18 months because that’s the timeframe in which people can claim it. I’d like to do this every year. Some communities do. If we don’t do this, the state gets to keep it.”

The state’s Unclaimed Property Division also receives millions of dollars turned over annually from businesses and organizations where the owners can’t be located. This includes intangible assets such as bank accounts, stock certificates, checks, unclaimed wages, refunds, and gift certificates.

Committee members unanimously approved the resolution be sent to the full Warren County Commission for its consideration.