Like other property data watchers, I was surprised to see a $500M increase in property valuation for 2026. Thankfully Gratiot Labs has an analysis and write-up of how there are some serious issues with how the property data was used to update how Detroiters homes are assessed. Here are some excerpts:

“The property transactions used for this calculation, however, are based on questionable transactions that appear to involve affiliated entities by RealToken, inflating and distorting the property values of Detroit homes.”

“Normally, these would be legitimate sales that help Detroit understand the actual market value of homes for property taxes. But 70% of the qualified sales involve transactions where the buyer and seller and essentially the same entity, RealToken, and with nearly identical prices ($54,000–$56,000). These are transfers between two companies rather than typical open-market sales.”