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View Diary: Detroit's EFM: four tax liens in four years (116 comments)

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  •  Beside its current operating budget deficit (5+ / 0-)

    Detroit is carrying close to 15 Billion dollars in debt...maybe more.  The record keeping by City Hall leaves a lot to be desired.

    I read that less than 50% of the property owners in Detroit actually pay their property taxes.  But then, I've also read that the property tax rate in Detroit is so high, and the housing stock so poor, that one can find houses on the market whose asking price is only slightly more than the annual property tax bill.

    The city is toast.  Too many poor decisions made over too long a time period.  It has the highest poverty rate of any major city in the country, and doesn't have the revenue base to provide the services for such a population.

    It's been going downhill since the late 50's.

    Oregon: Sure...it's cold. But it's a damp cold.

    by Keith930 on Sat Mar 16, 2013 at 01:34:15 PM PDT

    [ Parent ]

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