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The Detroit Land Bank Authority [1] is a public authority that owns and manages approximately 100,000 parcels of property in the city of Detroit, making it the city's largest landowner. [ 2 ] Occasionally framed as a quasi-governmental entity , the Detroit Land Bank operates a number of programs to reduce the number of Detroit properties that ...
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The deadline for a program that can help Detroiters avoid property tax foreclosure is Nov. 1 this year. Here is what to know. Detroit property tax relief program deadline moved up to Nov. 1.
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Blighted land in Philadelphia. Land banking is the practice of aggregating parcels of land for future sale or development.. While in many countries land banking may refer to various private real estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities tasked with managing an inventory of surplus land.
In addition to property tax, the city levies an income tax of 2.4% on residents, 1.2% on non-residents, and 2.0% on corporations since 2013. [17] Revenue is also obtained from utility taxes, hotel excises and from the Detroit-owned Water and Sewer system that provides most of the fresh water and sewage treatment facilities within the ...
A multitude of factors, including racial unrest, a struggling automotive industry, and white flight had deprived the city of a tax base, leading to deficits and a failure of the municipal system. [1] Further compounding Detroit’s problems was the fact that despite large decreases in population, its area remained unchanged, stretching thin ...
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