Detroit homeowners to see lower property tax assessments

DETROIT (AP) - Mayor Mike Duggan has announced about three quarters of residential properties in Detroit will see at least a 10 percent tax reduction on upcoming notices.

Duggan said Wednesday that property tax assessments in areas on the northeast and near-west sides will see the largest reduction at about 20 percent. But the mayor said about 20,000 homes in 25 neighborhoods won't see a reduction due to real estate values that have rebounded and currently match assessed values.

The city launched an effort last year to reform its tax assessment process in an effort to make Detroit a more appealing place for homeowners. Duggan said homes across the city have been over assessed for years.

The property tax reductions will come next week, as about 62,000 Detroit properties face tax foreclosure.