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Detroit: What Else Can We Sell? - Yahoo! Finance
After auctioning off their assets for about $3 billion (I'm guessing) they should condemn any property with back taxes and take possession of the many residential lots and blighted homes in the city. There are a lot of them. Then they can open up an office to sell them again at a set price. The buyer would receive pure title to the property meaning it would never be able to be taxed. No property tax would ever be allowed to be imposed on the property. A lot of ultra libertarian types rail against property taxes suggesting you don't really own the property. This would be a truly unique offering in America as no properties exist that are free of "potential" property taxation. They might actually score enough ultra libertarians to move in and set up survival compounds and all that good stuff (sarcasm only slightly intended)
After auctioning off their assets for about $3 billion (I'm guessing) they should condemn any property with back taxes and take possession of the many residential lots and blighted homes in the city. There are a lot of them. Then they can open up an office to sell them again at a set price. The buyer would receive pure title to the property meaning it would never be able to be taxed. No property tax would ever be allowed to be imposed on the property. A lot of ultra libertarian types rail against property taxes suggesting you don't really own the property. This would be a truly unique offering in America as no properties exist that are free of "potential" property taxation. They might actually score enough ultra libertarians to move in and set up survival compounds and all that good stuff (sarcasm only slightly intended)