Sterling Heights has claimed the fifth-highest place in the state for property value in 2018, according to a recent statistics from the Michigan Department of Treasury.
The city's total assessed value came in at over $5.7 billion, securing Sterling Heights the number one spot in property values in Macomb County for the year.
Like many cities in Michigan, Sterling Heights has struggled with revenue losses due to steep declines in property values during the Great Recession and reduced state revenue sharing since 2002. In response to these challenges, city officials say they have implemented cost-saving measures, developed service-sharing agreements, privatized services and implemented major labor and legacy cost reforms.
Sterling Heights mayor Michael Taylor says he is proud of 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,” says Taylor. “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 continues to experience significant manufacturing
, commercial and residential development
strengthening property values overall.