According to a recent report released by the Michigan Department of Treasury, the City of Sterling Heights has the fifth-highest property value in the State of Michigan and the highest property value in Macomb County for the year of 2018.
Sterling Heights total assessed value came in at $5,727,860,843, affirming the City’s strong property values.
Like most cities in Michigan, the City of Sterling Heights has struggled with staggering revenue losses of almost $90 million due to steep declines in property values during the Great Recession and reduced state revenue sharing since 2002. In response to these challenges, the City implemented massive cost saving measures, developed service sharing agreements, and privatized services and implemented major labor and legacy cost reforms.
Mayor Michael Taylor says he is proud of Sterling Heights and the manner in which the City has persevered through difficult economic times.
“I could not be more pleased with the transformation that is well underway in Sterling Heights,” Mayor Taylor said. “Strong property values and low taxes continue to make Sterling Heights an attractive community for homeowners and businesses. I am glad the recently announced statewide property value report validates we are on the right track.”
The City of Sterling Heights continues to experience significant manufacturing, commercial and residential development strengthening property values overall.
For more information or to schedule an interview, contact the City’s Community Relations Director Bridget Kozlowski at (586) 446-2471.