Even after bankruptcy, Detroit is in debt
The city of Detroit owes more than it has available to pay its bills – $1,600 per taxpayer, according to a national watchdog group. The news comes more than a decade after the city entered federal bankruptcy court.
READ MOREChicago leaders hand $40K in debt to each taxpayer, second-worst in U.S.
But that only covers Chicago’s debts. Those same taxpayers would need to contribute an additional $37,000 to pay down the state’s existing debts, according to Truth in Accounting’s most recent 2024 State of the States report.
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