Detroit Cuts (Some) Property Taxes

Currupt, embarrassing Detroit mayor Kilpatrick has successfully pushed to extend residential housing tax breaks to existing neighborhoods (not just new housing). It's not as much as it should be (33% instead of 50%), it lasts only 12 years (instead of forever), and affects only some neighborhoods. But it's real, and I will assume that he sought more, but had to compromise with those who lack an understanding of economics... such as the writer of this article, who asserts that "Detroit already loses millions of dollars" from tax breaks for the new houses.