Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 15 years ago,

User Stats

3
Posts
1
Votes
Chad Novick
  • Sacramento, CA
1
Votes |
3
Posts

Regarding Property Tax in Detroit

Chad Novick
  • Sacramento, CA
Posted

Im am considering relocating to Detroit to invest in RE. The only thing giving me pause is the price:prop tax ratio. It seems that in many cases the prop tax is so high than the property is in effect worth less than zero...however, it seems that the prop tax is almost arbitrary with comparable houses having a wide range of tax rate (ive seen $800-$4000 spreads). So I have the following questions.

#1- After acquiring a property, what is the likelyhood of getting a reduction in prop tax? Are there any methods that result in a greater chance?

#2- How reliable is the previous year's tax in determining what the current years tax will be? I found the city site that breaks down the previous tax....but I am curious if the tax if reassessed after a new owner purchases the property.

#3- Do the larger multi unit properties generally have a lower tax:rent ratio than SFH? I am having trouble locating tax records for some of the larger multi units.

#4- Do you have any evidence that the tax rates will be changed or home values re-assessed? I read an article about a proposed prop tax freeze during years that RE prices decline, however im not sure what has happened with this bill.

Thanks in advance for taking the time to answer any of my questions.

Loading replies...