This is the problem with real estate in the city and the state. Tax rates and reality are at two different levels.
They base tax rates on older properties over taxed in the first place instead of taxing properties on the sale value. That is why there should be a law that tax rates should be based on sale values, NOT on a ten year old house or whatever that sold twenty years ago. This is the big tax scam in Michigan. IN ESSENCE THE SALE PRICE SHOULD BE THE TAX BASIS.
THIS IS THE PROBLEM!
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