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Half of Detroit Properties Have Not Paid Taxes; Update on Detroit Bankruptcy

Frank130 Wrote: Feb 25, 2013 9:19 AM
It's easy: Detroit is bankrupt & should declare bankruptcy, then restructure without the restrictions currently in place. Anything else is just postponing economic reality and perpetuating the problem or shifting the problem onto other taxpayers who should not be responsible for Detroit's bad decisions.

The hollowing out of Detroit is nearly complete. All that's left is a bankrupt shell of a city with no services and scattered citizens that do not pay taxes.

The Detroit News reports Half of Detroit Property Owners Don't Pay Taxes

Nearly half of the owners of Detroit's 305,000 properties failed to pay their tax bills last year, exacerbating a punishing cycle of declining revenues and diminished services for a city in a financial crisis, according to a Detroit News analysis of government records.

The News reviewed more than 200,000 pages...