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Detroit budget committee advances Bagley NEZ homestead expansion to formal review
Summary
The Budget Finance Audit Standing Committee unanimously moved to send an expansion of the Bagley Neighborhood Enterprise Zone Homestead (NEZH) to formal review after an assessor outlined expected tax savings for eligible homeowners and public commenters raised questions about eligibility and equity.
The Budget Finance Audit Standing Committee voted, by voice and with no objections, to send a proposal to expand the Bagley Neighborhood Enterprise Zone Homestead (NEZH) to formal review after a presentation from the assessor and several public comments. The expansion would affect 499 parcels, of which 255 are potentially eligible for the homestead abatement, the assessor said.
Alvin Horn, deputy city assessor, told the committee the average taxable value of the 255 potentially eligible parcels is $20,659, producing an average tax savings of about $243 per property if the expansion is approved. Horn said the city would see an estimated loss of $70,912.69 in 2025 tax dollars from the abatement and…
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