05/21/2013 09:34 am ET

Michigan County Will Ask U.S. Supreme Court To Force Fannie Mae And Freddie Mac To Pay Taxes

AP/Manuel Balce Ceneta, File

WATERFORD TOWNSHIP, MI -- Oakland County plans to appeal to the Supreme Court in its claim that Fannie Mae and Freddie Mac owe the county $1.5 million and the state $10.5 million in taxes.

The U.S. 6th Circuit Court of Appeals on Monday ruled in favor of the federally chartered, stockholder-owned mortgage finance companies, which claim they're exempt from all taxes as government entities.

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