Re:100k Detroit homeowners illegally taxed $600M still waiti...
by maxerickson on Sunday April 17, 2022 @10:10AM
(#31060929)
The increase of the taxable value of residential properties is capped at 5% (or inflation if it is lower). When a property is sold, it resets to the assessed value.
The 2x factor increases the taxes paid by people who own properties with a taxable value less than the assessed value.
The 2x factor increases the taxes paid by people who own properties with a taxable value less than the assessed value.