If you’re a homeowner in the city of Detroit, you may be eligible to have some, or even all, of your taxes exempt.

When home values go up, property taxes usually follow -- but right now in Detroit, the tax hit is only a fraction of what it could be.

DETROIT – When the sub-prime bubble popped, an estimated 10,000 Detroiters lost their homes -- many of them because their homes were over-assessedThe Detroit City Council announced a new plan Tuesday that features an eight-part program aimed at giving those who lost their homes a path to owning a new home in Detroit. The plan is likely to pass as five of the nine councilmembers are co-sponsors. The program includes:50% discount on any auction or Detroit Land Bank propertyPreferential hiring for the City of DetroitChildren and grandchildren getting preference to paid youth programsPreferential access to Detroit at work job search and career servicesPreferential enrollment in the City’s Rehab AcademyPreferential enrollment in the Senior home retro-fit programPreference for the occupancy of affordable housingPreferential access to financial counselingThere were a variety of reasons people lost their home. For instance, those who were in arrears for taxes may not be eligible, but if you were in arrears because of the over-assessment, you will be eligible for the programs.