PHILADELPHIA, PA \u2014 The Pennsylvania Treasury returned $28,060.05 in unclaimed property to the Philadelphia Parking Authority, releasing money from 30 separate properties for potential use in the agency\u2019s parking programs.<\/p>\n
The returned properties range in value from $50 to $16,189.84, according to Treasurer Stacy Garrity. Philadelphia Parking Authority leadership will determine how the recovered money is used.<\/p>\n
\u201cI\u2019m happy Treasury was able to return more than $28,000 to the Philadelphia Parking Authority \u2014 money that can now be used to enhance the city\u2019s parking programs,\u201d Garrity stated.<\/p>\n
The payment is part of a broader effort by Treasury to return unclaimed assets held by the state. Since Garrity took office in 2021, Treasury has returned more than $1 billion in unclaimed property, including more than $21 million to 119 local government agencies.<\/p>\n
Treasury currently holds more than $5 billion in unclaimed property, including more than $738 million owed to Philadelphia residents. More than one in 10 Pennsylvanians is owed property, with the average claim valued at more than $1,000, according to the department.<\/p>\n
Unclaimed property can include dormant bank accounts, uncashed checks and forgotten stocks, as well as physical assets such as collectible coins, jewelry and savings bonds originating from safe deposit boxes.<\/p>\n
Pennsylvania law generally requires businesses to report property to Treasury after three years of dormancy. Treasury holds tangible property for another three years before it may be auctioned, while proceeds remain available indefinitely for the rightful owner to claim. Military decorations and memorabilia are not auctioned.<\/p>\n
Consumers can search Pennsylvania\u2019s unclaimed-property database at patreasury.gov\/unclaimed-property. Those who have lived in other states can search MissingMoney.com for potentially unclaimed property elsewhere.<\/p>\n