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Clawson Among Highest in State in Property Value Loss Since 2007

Clawson lost 36.2% of its state equalized value since 2007, according to a special report in Bridge magazine.

Clawson lost 36.2 percent of its taxable property value in the past four years, as Oakland County led all counties in Michigan, losing nearly a third of its tax base since 2007, according to a special report in Bridge magazine.

Since 2007, Oakland County has lost $25 billion in state equalized value,  according to a Bridge analysis of state Treasury Department data.

In Oakland County, the total real market value of taxable properties dropped 33.4 percent during the past four years, according to a compilation of assessment figures published Tuesday.

Among the lowest rates of decline is a drop of less than 26 percent in Royal Oak. Among the highest is in Clawson, where overall property values fell by more than 36 percent since 2007.

"Michigan overall lost 20 percent of its property value. . . . Countless Michigan communities fared far worse," says the report in Bridge, an online publication launched last month by the Center for Michigan, a 5-year-old Ann Arbor think tank. It provides a searchable list of 1,599 Michigan cities and townships. "The news differs based on where you live," says the brief report.

Figures cover residential, commercial and industrial properties.

The table below shows results for 13 Southeast Oakland communities in the Patch Network. Nine have a rate of decline below the county's rate, while Clawson, Birmingham, Ferndale and West Bloomfield are above that level – though by only 0.3 percentage points in the latter two communities.

Impact in Southeast Oakland

Community

2007 Total Property Value

2011 Total Property Value

Percentage Decline

Oakland County

$146.4 billion

$97.5 billion

33.4%

Berkley

$1.4 billion

$931.9 million

31.6%

Birmingham

$5.7 billion

$3.7 billion

35.8%

Bloomfield Hills

$2.1 billion

$1.5 billion

30.7%

Bloomfield Township

$9.2 billion

$6.3 billion

31.6%

Clawson

$1.0 billion

$637.7 million

36.2%

Ferndale

$1.7 billion

$1.1 billion

33.7%

Huntington Woods

$882.4 million

$613.3 million

30.5%

Oakland Township

$2.9 billion

$2.0 billion

29.8%

Rochester

$1.8 billion

$1.2 billion

30.1%

Rochester Hills

$7.9 billion

$5.7 billion

28.4%

Royal Oak

$6.0 billion

$4.4 billion

25.9%

Troy

$11.9 billion

$8.3 billion

30.2%

West Bloomfield

$9.5 billion

$6.3 billion

33.7%

Source: Bridge magazine

michael J October 19, 2011 at 01:41 PM
Negative unfounded if I had posted this, put of 31 Oak.Co. cities,Clawson is 5th highest in real prop.tax,tied for 4/ 5th in tot water bil,& highest out of 9 DDA asscessed Tax. (9 I think are the ones in the Main street prog.) there are more dda's School tax is also at the same level, I am always leery of tax valuations, they are some what subjective and way behind actual street prices. on the high side. Clawson one area was at 180 /195 k. Now 90/100Kish, that is more then 36%, glad you posted this,
Clawson Citizen October 19, 2011 at 02:45 PM
Yep! This is lowest amount of taxes I have ever paid is any city that I have lived in! Even in the early 80's! So, how can we still have homes left trying to sell over $100,000 in Clawson? Good luck trying to sell those right now..I do not plan on moving...yet..unless "new neighbors" do not..let's just say "settle down" or I might have no choice! Can't go into more than that right now either. I am almost paid off too, so this is upsetting to be that low on your mortgage and still so close to going under water?! But I also know, on new built homes, condos, etc, taxes were so high in Clawson, that I thought someone lied to me! Nope, they were telling the truth...But that gone now...or definitely cut in half! All it takes is one home, condo, to go into foreclosure, and the whole block/units goes down with it in value! And I found that out first hand! My home is now worth less, than what I paid for it in 1998, just before the housing boom started. And to think, I was "laughed" out of Century 21, which used to be on Main street, in 1976, by their salesperson, who told my ex-husband & I to "come back when we had real money to spend in Clawson!" We were trying to put in a bid on a 2 bedroom home for $32,000 back then! What comes around......LOL!
michael J October 19, 2011 at 04:04 PM
Back two yr's ago our C M, said we were recession proof !! Yep, in 69 paid 23k and had an unbelievable rate of 9 1/2, every one else had 1 or 2 %, and a 30 / 40 paymet relatives said how are you going to make it? that was two weels b4 T Day, the Friday b4 T day, I was laid off for 2 yr's. Your tax bill is what the city says, it is not based on the actual street value, unless you went b4 the tax board who is apointed by the City, not happy then go to the County, they are realizistic, since they know the whole county, their scope is much larger. don't be afraid.

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