AUSTIN (KAMR/KCIT) — Officials with the Office of Texas Comptroller announced that a record $344 million has been paid out in unclaimed property during this past fiscal year.
According to the release, the Comptroller’s Office has returned $300 million or more in unclaimed property for the past four out of five fiscal years.
“The $344 million represents almost 200,000 claims paid to their rightful owners and the fact that my office has returned $2.6 billion to Texans since I became Comptroller is a testament to the hardworking folks in our Unclaimed Property Division,” said Hegar. “I encourage everyone to visit ClaimItTexas.gov to see if the state is holding their unclaimed property.”
Officials detailed that the $344 million in unclaimed property returned in fiscal 2023 includes forgotten utility deposits or other refunds, insurance proceeds, payroll checks, cashier’s checks, dividends, mineral royalties, dormant bank accounts, and abandoned safe deposit box contents. The Comptroller’s Office added that businesses also turn their property over to unclaimed property after being dormant for one to five years.
The Comptroller’s Office said the state is currently holding $8 billion in cash and other valuables from the unclaimed property program.
For more information regarding the unclaimed property program, visit the Texas Comptroller’s unclaimed property website.