- Miller Samuel Real Estate Appraisers & Consultants - https://millersamuel.com -

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

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.