Data error inflates home value to $400 million
Flawed value creates budget problems
By Inman News, Monday, February 13, 2006.Home-price appreciation has never happened this fast: A data-entry error on a county computer system in Indiana changed the value of a home to $400 million from its original value of $120,000, according to news reports.
The error led to an erroneous tax bill of about $8 million for the property, and a failure to fully correct the data problem has created a boondoggle for the city, county and area schools that have to pay millions of dollars that should have been collected in taxes but was not.
The
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