101 Dumbest Moments in Business


Written on Monday, January 29, 2007 by Jessica

Gotta love it. 101 Dumbest Moments in Business. Coming in at #9:

101 Dumbest Moments in Business | Business 2.0: The good news: The president has finally managed to balance the federal budget...
...The bad news: For tax purposes, your 2006 adjusted gross income is $63,295,696,192.

A computer glitch in the tax rolls of Porter County, Ind., causes the valuation of a house in the city of Valparaiso to shoot up from $122,000 to $400 million - boosting its annual property taxes from $1,500 to $8 million. Though the county's IT director spots the mistake and alerts the auditor's office, the wrong number nonetheless ends up being used in budget calculations, resulting in a $900,000 shortfall for the city and a $200,000 gap for its schools.

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