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Over $413,000 in “treasure” belongs to Anderson County residents, and State Treasurer Todd Hollenbach wants to help them claim it.
Hollenbach spoke to local officials Thursday afternoon in the fiscal court chambers to announce that his office’s Treasure Finders program is coming to Anderson County.
Hollenbach, representatives from his office and local volunteers will meet at the community building in the county park this Thursday, March 4 from noon to 4 p.m. to begin calling residents who have unclaimed property.
Around 1,800 possible claims are out there for the taking by Anderson County residents. Claims vary in amount from $10 to thousands, he said.
Each year, the state treasury receives millions of dollars from holders (like banks and insurance companies). By statute, those holders are required to transfer assets of inactive accounts, according to the state treasury website.
Efforts are made to tell the public the property is being held, but only a small percentage is claimed by owners each year.
“We collect between $40 and $55 million each year,” Hollenbach said. Last year, Hollenbach estimates his office was only able to return between $9 and $10 million.
After taking office in 2008, Hollenbach made it a goal to return more unclaimed property to its rightful owners.
The money cannot be used for any other purpose and must be available should its rightful owners submit a claim, he said.
Most people are unaware that they have unclaimed property, he said.
“Highlighting its existence is half the battle,” Hollenbach said.
Anderson is the 12th county to host the Treasure Finders program.
Volunteers will make calls Thursday afternoon to notify residents if they have unclaimed property.
The program thrives on using local volunteers because of their wealth of knowledge about the community and people in it, Hollenbach said.
Volunteers do not know the amount the person will be able to claim, he said.
Those who get a call Thursday are invited to come to the community building that day to begin the claims process. Eligible claimants can also call 800-465-4722, e-mail email@example.com or visit www.kytreasury.com/contact.htm.
There is no time limit to submit a claim, Hollenbach said.
And rightful heirs can claim the property of deceased family members, he said.
Plus, the program doesn’t cost taxpayers anything because it is run by volunteers, Hollenbach said.
“It’s the program that keeps on giving,” he said.
Find out more by visiting, www.kytreasury.com.
E-mail Shannon Brock at firstname.lastname@example.org.