New County Property Tax Appraisals based on Fraudulant Data?

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Bill Call
Posts: 3319
Joined: Mon Jun 06, 2005 1:10 pm

New County Property Tax Appraisals based on Fraudulant Data?

Post by Bill Call »

The Plain Dealer, Saturday, July 29th 2006 had an article about mortgage fraud and the housing glut. If the article is accurate and:

There is a housing glut and....

Up to 25% of the 14,000 foreclosure cases filed last year are based on fraud and...

That the fraud is based on some type of misrepresentation about buyers income and the appraised value of the property and..

The County's appriasal is based on recent sales data then...

Isn't it possible that the sales data used by the county contains thousands of valuues based on fraudulant appraisals?

And if thoses appraisals are based on fraudulant data shouldn't they be readjusted downward to reflect that fraud?
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