Detroit : State Data and Comparisons : Data-Z

Detroit, MI

TIA Data

2022 Financial State of Detroit (Released 2/15/2024)

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Detroit owes more than it owns.

Detroit's Taxpayer Burden™ is -$3,000, and it received a "C" from TIA.

Detroit is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Detroit only has $4.3 billion of assets available to pay bills totaling $4.9 billion.

Because Detroit doesn't have enough money to pay its bills, it has a -$617.2 million financial hole. To erase this shortfall, each Detroit taxpayer would have to send -$3,000 to the city.

Detroit's reported net position is understated by $271.5 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.

The city's financial report was released 172 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2021 Financial State of Detroit

2020 Financial State of Detroit

2019 Financial State of Detroit

2018 Financial State of Detroit

2017 Financial State of Detroit

2016 Financial State of Detroit

2015 Financial State of Detroit

2013 Financial State of Detroit

Other Resources

Detroit Annual Comprehensive Financial Reports