What is the assessed value?

The assessed value is the estimate of one-half (50%) of fair market value, which is calculated by the local unit of government’s assessing department. The Michigan State Constitution requires the assessed value be set at this level.

What is the county equalized value?

The assessed value as placed by the local assessing department, is reviewed by the county equalization department. The equalization department may add to, subtract from, or approve it as submitted. Upon their action, the assessed value becomes the county equalized value.

What is the state equalized value (SEV)?

The county equalized value is reviewed by the Michigan State Tax Commission. The Tax Commission may add to, subtract from, or approve it as submitted. Upon their action, the county equalized value becomes the State Equalized Value.

 What is taxable value?

The taxable value was created upon the passage of Proposal A, by the electorate in 1994. The taxable value is the lower of the State Equalized Value or the capped value. This is the value used times the millage rate that produces the amount of taxes levied against the property.

What is the capped value?

The taxable value can increase from year to year by 5.0% or the amount of the Consumer Price Index (CPI), which ever is less. Additions or losses to the property are also taken into consideration. The formula is the previous taxable value, minus losses, x 1.05% or the CPI, which ever is less, plus any additions = capped value.

If I am unhappy with the assessed value or taxable value on my property, what can I do about it?

I will be out of town during the March Board of Review, how can I lodge an appeal?

You may send a personal representative or a letter of explanation.  Please include the reason for appealing your assessed value, the parcel identification number, your address and telephone number. The Board of Review will make a decision and notify you by first class mail.

What if I am not satisfied with the Board of Review decision on my appeal?

You have the right to file an appeal with the Michigan Tax Tribunal. This appeal must be filed with the Tribunal on or before June 30, of the current year.

Am I allowed to view my appraisal records?

Yes! Most departmental records are considered public record and are open for inspection during normal business hours.

When are the assessed values for each parcel determined?

December 31 is known as tax day throughout the State.  Values are determined by taking into consideration the status of the property and the economic conditions of the area.

What authority does the Township have in order to place a value on my property for property tax purposes?

Why does the Assessed value change from year to year?

The assessed value must reflect 50% of market value. As market value changes, so does your assessment. For instance, if you add a garage to your home, the assessed value increases. However should your property be permanently damaged by fire, the assessed value would decrease. Property owners have a responsibility for reporting any changes made to their property that would affect its value. When you obtain a building permit, our office is notified by the Building Department.

Why assessments go up when a property hasn’t changed?

Market value is a product of the price paid for the property.  Since assessments must be set by market value, changing real estate values in the community will be reflected in the assessments.  As prices increase/decrease, so does market value.

All property values do not change to the same degree. Many factors influence values. Properties with water or scenic views, for example, may increase more rapidly than others.