An Indiana 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 municipal and school district layoffs.
County Treasurer Jim Murphy said the home usually carried approximately $1,500 in property taxes; this year, the owner was billed $8 million. Most local officials did not learn about the mistake until 18 government taxing units were asked to return a total of $3.1 million.
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