PROPERTY TAXES

Nearly every homeowner in Detroit could see their property taxes reduced by 17% on average under the Land Value Tax Plan.

This week on Flashpoint, we’re talking with Wayne County Treasurer Eric Sabree, who discusses the end of foreclosure moratoriums and the important property tax deadline that’s approaching.

When home values go up, property taxes usually follow -- but right now in Detroit, the tax hit is only a fraction of what it could be.

About 1,600 homeowners have had their back taxes paid through a program designed to preserve wealth and home equity in Detroit while helping families achieve financial independence.

DETROIT – Many Detroit residents are finding themselves falling behind on their property taxes, and to date, that’s been a recipe for foreclosure and financial disaster. Officials from Detroit and Wayne County have long had problems with tax foreclosures. Republicans and Democrats from Detroit to Lansing went to work to change the law. Jones couldn’t afford her monthly property tax bill, so she went to the city of Detroit for help, and she got it. “My property tax bill will go from being $400 a month to under $50 a month,” Jones said.