The biggest losers on Oscar night were property owners -- at least on Lansing’s west side.
I attended an impromptu Oscar event in my neighborhood and the issuance of city property tax bills came up. Of the four households represented, all saw reductions in the assessed value of their homes.
The good news is that everyone involved can look for a property tax break in 2009. The bad news is that property values are down in a city neighborhood only recently seen as on the rise. I would imagine this decline is citywide. Does anyone have information to share on that point?
The unspoken hope at the party, of course, was that this decline will end up being temporary and property investments in Lansing will regain strength. Oh, and for those of you out there who don’t have to sell a home on the back end ... it’s a great time to buy.
