A modest home in Porter County was incorrectly valued at $400 million, an error that caused budget problems within the county. The error could even lead to layoffs in municipalities and school districts around the region.

The home was valued at $121,900 before the glitch. Sharon Lippens, the county's director of information technologies, says her agency caught the error and alerted the county auditor. However, the $400 million was used to calculate tax rates.

Now, entities around the region, including the Valparaiso Community School Corp. and the city of Valparaiso have been asked to return money. City leaders told reporters that correcting the error could result in cost-cutting measures that could include layoffs.