Based on equalized value of $62.8 billion, the total worth of all real estate in Oakland County is pegged at nearly $126 billion, which exceeds the total value of all property in 10 separate states. The increase of $5.3 billion in assessed value translates into a gain of $10.6 billion in the value of all Oakland County property.

"What this report tells me is that despite a downturn in the national economy, Oakland County is still moving in a very positive direction," says Oakland County Executive L. Brooks Patterson.

Oakland County's taxable value increased by 6.36% this year compared to 7.41% last year. Patterson says although the increase is smaller compared to 2001, the numbers still reflect very strong growth in the value of Oakland County real estate.