Pad to palace – house value boosted by $399 million

Posted on February 13, 2006 

Pad to palace – house value boosted by $399 million

A house estimated to be worth $121,900 was erroneously valued at $400 million.

Now officials say the glitch has resulted in budget shortfalls, and could lead to possible layoffs in municipalities and school districts.

County Treasurer Jim Murphy said the home usually carried about $1,500 in property taxes; this year, the owner was billed $8 million.

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