08 January 2024- Pennsylvania Treasurer Stacy Garrity and the Franklin County Commissioners announced today that more than $25,000 in unclaimed property has been returned to Franklin County.
“Returning unclaimed property is always exciting, but knowing this money will help the hardworking taxpayers of Franklin County is extra meaningful,” Treasurer Garrity said. “Since taking office, I’ve spent time in communities like Chambersburg and Greencastle, and I’m thrilled that these funds are now back where they belong and will be put to good use for the taxpayers. Returning the more than $4.5 billion in unclaimed property we’re safeguarding at Treasury is one of my top priorities because this money doesn’t belong to the state – and I want to get it back to the rightful owners.”
“We appreciate the efforts of Treasurer Garrity and the State Treasurer’s office to return these funds to Franklin County,” said Franklin County Commissioner Chairman Dean Horst. “That amount of unclaimed property is no small chunk of change, so we are pleased this money is being returned to benefit Franklin County services and our residents.”
The $25,631.22 returned to Franklin County includes 103 individual properties ranging in value from $.03 to $8,274. The oldest property dates back to 1992, while the most recent is from 2019. Properties returned include funds from accounts payable checks, cashier’s checks, credit balances, uncashed checks, and other forms of unclaimed property. County officials will decide how the funds are used.
Treasury is working to return more than $4.5 billion in unclaimed property to its rightful owners. More than one in ten Pennsylvanians is owed unclaimed property, and the average claim is worth about $1,600.
Unclaimed property can include dormant bank accounts, uncashed checks, insurance policies, contents of forgotten safe deposit boxes and more. State law requires businesses to report unclaimed property to Treasury after three years of dormancy.
Treasury keeps tangible unclaimed property for about three years before it is auctioned. Auction proceeds are kept in perpetuity for owners to claim. Military decorations and memorabilia are never auctioned.