Community Corner

Talk About Town: White Lake Township Property Values Down 35.8% in 4 Years

Oakland County led the state, losing one-third of its property value since 2007, according to a special report in Bridge magazine, are you surprised?

White Lake Township lost 35.8 percent of its taxable property value in the past four years, as Oakland County led all counties in Michigan, losing nearly a third of its tax base since 2007, according to a special report in Bridge magazine.

Since 2007, Oakland County has lost $25 billion in state equalized value,  according to a Bridge analysis of state Treasury Department data.

In Oakland County, the total real market value of taxable properties dropped 33.4 percent during the past four years, according to a compilation of assessment figures published mid-October.

Find out what's happening in White Lake-Highlandwith free, real-time updates from Patch.

Homes are being appraised for less than they were prior to the economic downturn and real estate crash, causing the decrease in state equalized values and assesments. As a result property taxes are lower, shrinking the tax base.

"Michigan overall lost 20 percent of its property value. . . . Countless Michigan communities fared far worse," says the report in Bridge, an online publication launched last month by the Center for Michigan, a 5-year-old Ann Arbor think tank. It provides a searchable list of 1,599 Michigan cities and townships. "The news differs based on where you live," says the brief report.

Find out what's happening in White Lake-Highlandwith free, real-time updates from Patch.

Figures cover residential, commercial and industrial properties.

So, we want to know:

Are you surprised by this news? What do you think it means for the township?

Leave your comments in the comments section at the end of this article.

Impact in Huron Valley Area

Community

2007 Total Property Value

2011 Total Property Value

Percentage Decline

Oakland County

$146.4 billion

$97.5 billion

33.4%

White Lake $2.969 billion
$1.907 billion
35.8% Milford $2.14 billion $1.451 billion 32.6% Highland $2 billion $1.308 billion 34.8% Commerce $5.06 billion $3.363 billion 33.7%

West Bloomfield

$9.5 billion

$6.3 billion

33.7%


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here

More from White Lake-Highland