Under state law, property owners can — through a lengthy process — appeal the assessed value of their properties before the Michigan Tax Tribunal. If they prevail, the municipality charged with assessing their property is required to refund the disputed amount that corresponds to the reduced assessment.
There’s nearly 1,500 active petitions filed by Detroit property owners, including two with familiar names: Buzz Lightyear LLC and Homer Simpson LLC. The entire Flintstones cohort, you’ll see below, is also seeking lower taxes.
In case you’re wondering, and happen to be considering a new business venture, Lilo & Stich LLC appears to still be available.
This article appears in Jun 10-16, 2015.
