High Tax Assessments Possible Cause for Growing Foreclosure Rate

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: assessments Constitution Detroit foreclosure rate limit Michigan property values About Author: Dean Terrell Subscribe Demand Propels Home Prices Upward 2 days ago According to an article from The Washington Post, high assessments may be to blame for Detroit, Michigan’s foreclosure crisis. Two college professors, Bernadette Atuahene and Tim Hodges, published a study making the case that the property tax on thousands of homes’ were illegally assessed. In 2015, Detroit had one of the highest foreclosure rates at 3,949 foreclosures per 100,000 people.In an article from Detroit Free Press, Atuahene cited data from her previous study titled “Stagegraft” last year showing a consistent rate of tax assessments higher than what the Michigan State Constitution allows from 2009-2015. “In our study, we find that Detroit’s assessor is flagrantly violating this vital state constitutional provision” Atuahene told the Press.The Michigan constitution states homes cannot be assessed at more than 50 percent of its market value. However, data from Atuahene’s most recent report suggests that between 55 and 85 percent of homes were assessed well above the legal amount from 2008 to 2015, according to the Post. More than 160,000 homes have been foreclosed on in Detroit since 2002.Another important detail is how certain properties were targeted based on property values. Data showed cheaper properties were more likely to be assessed higher than the more expensive ones. In an interview, Atuahene states “We found in [the lowest priced homes] 95 percent or more were being assessed in violation of the Michigan constitution. But when you get to the highest valued homes, only 13 percent were assessed in violation.”In the article from the Post, Detroit Chief Assessor Alvin Horhn disputed the findings of the more recent study which is planned to be published next year. “Much of the data does not meet the standards of the State Tax Commission. Therefore its findings would not be applicable under Michigan law” Horhn told the Post. The Best Markets For Residential Property Investors 2 days ago Previous: Big Banks and FinTech: Do American Consumers Want Both? Next: Fannie Mae Makes Fifth Sale of Reperforming Loans High Tax Assessments Possible Cause for Growing Foreclosure Rate assessments Constitution Detroit foreclosure rate limit Michigan property values 2017-10-11 Dean Terrell in Daily Dose, Featured, Foreclosure, Journal  Print This Post The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago October 11, 2017 1,658 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / High Tax Assessments Possible Cause for Growing Foreclosure Ratelast_img read more

Women of Troy storm into semis

first_imgWith a 29-5 record on the season, the USC women’s volleyball team has orchestrated a near-flawless season. Stiff competition from Pac-12 rivals Stanford and UCLA notwithstanding, the five losses have merely served as blips on the radar for a club that has dominated opponents with 17 regular-season sweeps and two more in the first round of the playoffs.Peaking · Senior opposite Katie Fuller helped USC make quick work of its first two tournament opponents, beating Fairfield and St. Mary’s. – Austin Vogel | Daily TrojanNow, having already expected to reach the semifinals, the Women of Troy set their sights on the big stage with the finals just around the corner.The sixth-seeded Women of Troy head to Texas this week, set to face the unfamiliar Wichita State Shockers (24-9) on Friday night in the Austin Regional semifinal Round of 16.“If you want to use a pun, it’s a shocker — but only to those who aren’t watching, as Wichita State is on a good run the last three weeks,” USC coach Mick Haley said. “If you look at the stats, they match up with us in every category. Their setter [Chelsey Feekin] is critical for them and is the coach on the floor for them.”The Women of Troy made quick work of their first two playoff matches, easily dispatching Fairfield 3-0 in first round action (25-8, 25-11, 25-10) before fending off St. Mary’s 3-0 (28-26, 25-16, 25-19) in a much stiffer match. The victories catapulted the team to its fifth semifinal appearance in seven years and ninth overall in 12 years under Haley.The first-round match against the Stags arguably showcased the team’s most consistent effort of the season, as the Women of Troy registered 47 kills for a .518 attacking percentage while logging nine aces. Freshman outside hitter Samantha Bricio christened her playoff career with a dominating performance, notching 16 kills. Senior opposite Katie Fuller and junior outside hitter Sara Shaw each recorded nine kills, while sophomore setter Hayley Crone notched 31 assists and junior libero Natalie Hagglund added 13 digs.St. Mary’s proved to be a different story altogether for the Women of Troy, who promptly began the match with an extended set but put away the final two sets to advance. Junior middle blocker Alexis Olgard inflicted significant damage defensively, recording six solo blocks (and 10 total) to go alongside six kills. The six solo blocks were the highest for USC since Emily Adams also recorded six in a November 2002 game against Stanford.The Women of Troy recorded a perfect first set with 18 kills and no errors, but still trailed 26-25. A quick Olgard kill and a crushing shot by Bricio brought up set point at 27-26. Olgard ended an expense by recording her third solo block of the frame to seal it at 28-26.The second set, while still competitive, proved less tight than the first. After a back-and-forth battle early, the Women of Troy jumped up 20-15 on a kill by freshman middle blocker Alicia Ogoms, after which an attacking error sealed the set at 25-16. The third set saw the Gaels keep pace, but the Women of Troy pushed out to leads of 19-12 and 23-16 before finishing the match on a Gael service error.“We had three hard days of practice this week,” Haley said. “We’re not just focused on winning the match, but we are also trying to get better as well.”While the Women of Troy have not played the Shockers this season and are relatively unfamiliar with the program, Haley placed particular emphasis on the need to respect any and all opponents in the playoffs.“We want our players to respect their team and coaching staff,” Haley said. “Everyone who can get to the sweet 16 can win on any given night and they are playing with nothing to lose. WS plays in a good conference. They will be ready to play and we are not looking past Wichita State.”The winner of the USC-Wichita State match will advance to the regional championship match Saturday against the winner of the Texas-Florida semifinal.last_img read more