Fighting your Michigan property tax assessment
Property taxes in Michigan
The last couple of days I have been preparing Comparative Market Analysis (CMA) for different people so they can fight their property taxes. Michigan property values have fallen dramatically in the last 3 years. Because cities depend on the property tax revenues to pay payroll and provide community services they are slow on bring down the property tax assessments. The cities need the property tax revenues to keep the city running. They really don’t want to cut the taxes because that means budget cuts. Many cities are doing a good job of reducing the property taxes, but there are quite a few that are dragging their heels on lowering Michigan homeowners property taxes.
There are two numbers you need to know about on your tax statement.
- Taxable value – The value that is used to figure out what you pay on your Michigan property taxes
- State Equalized Value (SEV) – what the city or assessor determines your property is worth. The assessor looks at comparable homes that have sold to come up with this value. State equalized value (SEV) is supposed to be 1/2 of market value. SEV is half of what “they” (the assessor) thinks your property is worth in todays market.
In order to get your Michigan property tax assessment lowered you must go to your local board of review to fight your taxes. You must provide good written evidence that your city property taxes are too high. You must either
- have a licensed appraiser do an appraisal for you
- have your real estate agent do a market analysis for you
- or do it yourself – gather comparables or listings of homes that have sold that are close to yours in size, location, and sold during the period that the city assessor wants.
The key is to have solid proof why your home is worth less than what the assessor thinks. Then maybe they will lower your Michigan property taxes.
More info on How to lower your Michigan property taxes Feel free to call me for help on taxes.
I hope this help you lower your city taxes. Russ Ravary Your Metro Detroit area real estate specialist
Michigan’s famous natives
Did you know these people came from Michigan?
Tim Allen actor (born in CO)
Paul Assenmacher baseball player
James Anthony Bailey circus showman, co-founder Ringling brothers, Barnum and bailey circus
Sandra Bernhard actress
Jerome “The Bus” Bettis football player
Harry Blackstone, Jr. magician
William Edward Boeing aviation pioneer
Sonny Bono singer, actor
Jerry Bruckheimer film, television producer
Alice Cooper musician
Francis Ford Coppola film director
David Coulier comedian, actor
George Armstrong Custer u.s. army officer and cavalry commander in the American Civil War and the Indian Wars (born in Ohio)
Jeff Daniels actor (born in GA)
Pam Dawber actress
David DeBusschere basketball player, coach
John DeLoreanautomaker, founder Delorean Motor co.
Richard DeVosco-founder Amway
Thomas E. Dewey politician
Horace Elgin Dodge automobile manufacturing pioneer
John Francis Dodge automobile manufacturing pioneer
Gerald Ford 38th u.s. president
Henry Ford founder ford motor company
(The) Four Tops vocal quartet
Steve Fraser olympic medalist
William “Bill” Freehan baseball player
Charlie Gehringer “Mechanical Man” baseball player
Kirk Gibson baseball player
George “The Gipper” Gipp football player
Berry Gordyrecord producer, founder Motown Records
Grand Funk Railroad music group
Al Green singer
David Alan Grier actor
James P. Hoffa labor leader
Michael “Mike” Ilitch founder little Caesars pizza, owner Detroit red wings, Detroit tigers
Tom Izzo basketball coach
Robert Jarvik developed Jarvik-7 artificial heart
Earvin “Magic” Johnson basketball player, entrepreneur, business leader
W. K. Kellogg corn flake inventor
Jack Kevorkian pathologist
Alfred V. Kidder archaeologist
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