Tenny,
I'm not trying to deter you from buying a loft, but I am/was in the same position as you. I was looking forward to buying a loft, and then I realized that most of these lofts were made in the early 2000s, and the tax abatement would end in a few years. After that, taxes would be FIVE TIMES what they are currently. For example, the millage for my home [[in Detroit) is 75. The millage on the lofts are 14-15, now. The taxes for that loft may only be around $700, now. But in a few years, when the abatement comes off, the taxes would be then be $3500.

-Tahleel