3 ms·
Yes, that part is ridiculous. But once you normalize for all of that, then, assessing at 85% is really like assessing for 170% which would be bad. Also - in a
by jollybean 5y ago
Yes, that part is ridiculous.
But once you normalize for all of that, then, assessing at 85% is really like assessing for 170% which would be bad.
Also - in a situation of rapidly deteriorating home values, the state may be short sighted, in wanting to pay it's bills, trying to extract some value.
It's really sad because you generally don't see entire neighbourhoods go to nothing in most of the modern world.
- sitkack 5y agoI did a tour of Detroit back in 2011, shortly before one of their large house auctions all for unpaid property taxes. Some of these basically destroyed houses were being charge 400-600 a month in property tax. The city continuing to tax Detroit neighborhoods like this is one huge contributing factor to the decline of Detroit.
- jollybean 5y agoThat's probably the tip of the iceberg of corruption and stupidity.