Mayor Duggan is set to announce major cut in property assessments across the city, promising "double-digit reductions" to three-quarters of Detroit homeowners. That means lower property taxes for those lucky enough to get a reduction. Detroiters pay (or don't) one of the nation's highest tax rates, but they do so based on assessments found to be, on average, 65% too high in a 2013 investigation by the Detroit News. A year ago, Duggan promised the first city-wide reassessment since the 1960s would be complete within 3-5 years. With 62,000 properties heading for the 2015 tax auction, maybe he decided that wasn't soon enough.
UPDATE (1/29): The official press release from the mayor's office claims that an internal study found "the majority of the city" was over-assessed by just 10-20%.
· Tax Auction Numbers Are Already Frightening [Curbed]