OK - I have found a property that I like in Detroit Michigan for the purposes of buy & hold for cashflow, (bank owned).
While waiting for the agent to get back, I am trying to find out what the property taxes are, this is not showing in that search, however, searching delinquent taxes advises there is nothing outstanding on this property to date.
I thought if I checked the surrounding properties it could indicate the approx. taxes and if there may be trouble in the future.
WHAT I FOUND .... is baffling (to an international investor)
Property no. 0=clear numbers 1 & 2 are not listed, 3=clear 4-9 not listed, 10=2009 outstanding tax is $2075, 11=2009/$4075, 10-19 not listed, 20&21=clear 22-27 not listed 28=2009/$900, 29=2008/$5725 & 2009/$4900 30-34 not listed and 35=2008/$850 and 2009/$3825.
It would appear that properties next door to each other have taxes of $900 and $4900 for the same tax year – or maybe this is just the balance of the amount owing?
I would have thought the taxes in 1 street would all be similar (all being equal brick 3br 1 bath basement + garage) –Surely this must be true, how could different amounts be justified?
I understand if the taxes have not been paid for 2 years the county can foreclose.
I wonder if this tax is invoiced and broken down by spend category ie water, sewerage, public transport, fire dept, parks & gardens, council running costs etc.
Can anyone shed light on this information?
