PENNSYLVANIA — State Treasurer Stacy Garrity this week announced the successful return of $14.8 million in unclaimed property to 48 county governments across the state. The recovered sum marks a notable achievement for the Pennsylvania Treasury Department’s longstanding practice of restoring unclaimed assets to local government entities.
“This is fantastic news for the Pennsylvanians who call these counties home,” said Garrity. “I’m grateful to the many county commissioners, county treasurers and other officials who worked with us to make this happen. I look forward to working with more counties and other local government entities, including school districts and municipalities, to return even more unclaimed property in 2024.”
Among the counties receiving the largest payouts were Philadelphia, with over $13.3 million, and Allegheny and Delaware, each with sums exceeding $179,000. Other counties, such as Adams, Bedford, and Berks, received smaller amounts, but every dollar returned helps support local services and infrastructure.
Contrary to popular belief, unclaimed property isn’t limited to individual citizens. “Unclaimed property is also available for businesses, nonprofit organizations, and government agencies,” explained Garrity. She encouraged all entities to check the Treasury’s database to see if any of the $4.5 billion currently unclaimed belongs to them.
In the last fiscal year ending June 30, 2023, the Treasury returned almost $274 million, the highest amount of unclaimed property ever returned in a single year. With more than one in ten Pennsylvanians owed unclaimed property, and the average claim worth about $1,600, the potential for financial recovery is substantial.
Unclaimed property can take many forms, including dormant bank accounts, uncashed checks, insurance policies, and contents of forgotten safe deposit boxes. After three years of inactivity, state law requires businesses to report most unclaimed property to the Treasury. While tangible unclaimed property is kept for about three years before being auctioned, the proceeds are kept indefinitely for owners to claim. Importantly, military decorations and memorabilia are never auctioned.
As Garrity and her team continue their efforts to return more than $4.5 billion in unclaimed property to rightful owners, this recent redistribution marks a promising milestone for Pennsylvania’s local governments and their constituents.
To search Treasury’s database, visit patreasury.gov/unclaimed-property.
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