The City of Detroit has finished its reassessment of every residential and commercial property within the city limits. This means that the assessed value of our homes and businesses is now more in line with the fair market value of them.
This, by the way, is the first time in decades that the City of Detroit has reassessed all of our property values.
From my own personal experience, this updating of property values means that my property taxes has gone down by $294.
I want to thank Mayor Mike Duggan and his team for making sure that this happened.