City officials expect to generate about $4 million through the effort, part of Bing's strategy to generate an additional $50 million for the cash-strapped city in 2013, the Detroit News reported Wednesday.
People and organizations with outstanding tax balances from 2011 and from prior years are eligible, the mayor's office said.
The program will begin Jan. 22 and run through Feb. 22, the Detroit Free Press said.
Martin Bashir resigns from MSNBC over Sarah Palin comments
Texas principal bans speaking Spanish, stirs controversy