Matrix Blog

One Thing Leads To Another And Soon Or Later Its $400M

by Jonathan Miller | @jonathanmiller

February 14, 2006 | 12:30 am |

The story about the [House valued accidentally at $400 million causes problems [News Sentinel]](http://www.fortwayne.com/mld/newssentinel/13843293.htm) was a simple compluter glitch gone bad.

[The homeowner of this house [NWI Times]](http://www.thetimesonline.com/articles/2006/02/11/news/top_news/0a5d658eb98548598625711200168510.txt) got an $8M tax bill when they usually pay about $1,500 because the property was [erroneously appraised for $400M [Chicago Tribune]](http://www.chicagotribune.com/business/chi-0602110099feb11,1,5380518.story?coll=chi-news-hed&ctrack=1&cset=true).

Thats not the story.

How did this sort of thing slip through the system? It seems like very little budget or financial oversight in this process was involved.

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About Jonathan Miller

Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state, and federal courts. He holds the Counselors of Real Estate (CRE) designation, is an Appraiser “A” Member of the Real Estate Board of New York, and is a member of RAC.
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Columns by Jonathan Miller

Forbes ('20-)

Appraisersblogs ('17-)

'Three Cents Worth' column 3CW ('05-'16)

When Curbed was acquired by Vox, my eleven years of 3CW chart art and column links were broken on Curbed NY, Curbed DC, Curbed Miami, Curbed Hamptons, Curbed LA, and Curbed Ski.

Many of my 3CW charts can be found here:
Curbed 3CW Full Chart Archive

Op-ed column ('14-'15)

'Economic Spotlight column ('03-'09)

New York Times experiment ('08-09')

Huffington Post (09')

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