The Michigan State Tax Commission has approved a plan to conduct a citywide reassessment of the 386,000 properties in the City of Detroit. The reassessment will be complete by December 2016.
The reassessment comes on the heels of an investigation by the state into over assessments and tax delinquencies. The Detroit News uncovered instances where taxpayers were over assessed an average of 65%.
Detroit Mayor Mike Duggan said the reassessment will cost nearly $10 million. Duggan explained, "The timing is right for the reassessment overhaul so the city can get realistic revenue projections as it progresses through bankruptcy."