Prettiest 400 million dollar home you ever saw.

[Motorboat Cruiser]

Wow, talk about an expensive glitch...

VALPARAISO, Indiana (AP) -- A house erroneously valued at $400 million is being blamed for budget shortfalls and possible layoffs in municipalities and school districts in northwest Indiana.

The house had been valued at $121,900 before the glitch.

An outside user of Porter County's computer system may have triggered the mess by accidentally changing the value of the Valparaiso house, said Sharon Lippens, director of the county's information technologies and service department.

County Treasurer Jim Murphy said the home usually carried about $1,500 in property taxes; this year, it was billed $8 million.

Most local officials did not learn about the mistake until Tuesday, when 18 government taxing units were asked to return a total of $3.1 million of tax money. The city of Valparaiso and the Valparaiso Community School Corp. were asked to return $2.7 million. As a result, the school system has a $200,000 budget shortfall, and the city loses $900,000.