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Economy

Detroit hires company to reappraise real estate

Col. Frank J. Hecker House in Detroit
User: Werewombat
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Wikimedia Commons

DETROIT - A Plano, Texas, company has been hired to give Detroit a clear picture of how much individual properties in the city are worth.

Tyler Technologies Inc. says its appraisal arm will compile data on real property in the city. It says Detroit has not completed a full reappraisal of real property in more than 50 years.

A spokesman for emergency manager Kevyn Orr says Tyler's CLT Appraisal Services unit will give the city a "more accurate assessment of property values." Bill Nowling says the city will use it to "create more accurate property tax bills."

Mayor Mike Duggan said earlier this year that the city would lower property tax bills by reassessing home values. He says high, unrealistic property assessments have angered city residents and forced many from their homes.

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