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Finance - Assessing

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1. What is taxable value?

Taxable values began in 1995 as part of Proposal A. Taxable values are adjusted each year by the Consumers Price Index (CPI) or 5%, whichever is less until a property ownership transfers. Your taxable value cannot be greater than your state equalized value. In other words, Proposal A "capped" taxable value increases by the CPI or 5%, whichever is less plus the value of losses and additions caused by physical changes in that property that are not present on the record card.

2. I'm building a new house. How can I estimate the taxes?

Estimate your annual taxes by multiplying ½ of the estimated total value of the completed home times the tax rate. Be sure to add land value to your value estimate before computing your estimated taxes.

3. How do I change my name or mailing address on my assessment and taxes?

To do this, contact the Assessor’s Office to process name and mailing address changes. Name changes will require documentation. Examples of documents are: marriage license, driver’s license, Quit Claim Deeds, or death certificates.

4. Where can I get a copy of my deed?

Copies of recorded deeds and land contracts can be obtained from Kent County Register of Deeds Office at www.accesskent.com. 

5. How can I find my property lines?

If you need to find your property lines, you should contact a local surveyor to perform this service. Several are listed in the yellow pages of the phone books. We can provide your lot size and a copy of your plot map to get you started, but we cannot survey or locate stakes on your property.

6. I don't have any children in school, why do I have to pay school taxes?

Michigan law requires everyone to support local public schools through property taxes. Eligible homeowners may be exempt for 18 mills of school operating taxes, but are still responsible for school debt, building funds and state education taxes.

7. My mortgage company raised my house payment because of my taxes. Why did the taxes go up so much?

Typically this happens about one year after you buy a new house or after a millage election. Your mortgage company probably based your original tax escrow payment on the last known taxes. After you purchased the property it’s taxable value was uncapped for the next tax year. The taxes were then based on a higher value. Even if you have not purchased a new house a special election authorizing additional millage will result in a higher tax bill. Once this happens, your mortgage company reevaluated your escrow amounts and changed your payment to cover the actual taxes on your home. They may also increase your payment to make up any shortfalls in the previous year.

8. If I put an addition on my home, how will it impact my assessment / taxable value and my taxes?

This addition will be added at 50% of true cash value to the assessment and the taxable value. The taxable value for the original property will continue to be calculated in the capped value formula. The new value will add to your taxes. The formula for taxable value is (previous year taxable value-losses) x (CPI or 5%)+ Additions. 

9. How was my assessed value determined?

Assessors use a state required mass appraisal method to value properties. We estimate land values from sales data and building values from a state cost manual. Then, we analyze sales data from your neighborhood and develop factors we use to further adjust our estimates to reflect local market value.

10. What is true cash value?

The term refers to the “usual selling price” of your property.

11. Can my taxable value increase more than the rate of inflation?

Yes, if:

1. A sale and/or title transfer occurs. In the year following a sale and/or title transfer, the property becomes "uncapped" making the state equalized value (SEV) and taxable value the same. Michigan law states the actual sale price must not be the sole basis for the new SEV for that property.
2. New construction to a property is added to the taxable value.
3. The value of items omitted from the previous year(s) assessed value is added to the taxable value.

12. Why is my change in assessed value different than my neighbor's?

Assessed value changes vary according to the individual characteristics of houses in relation to sales in your area. Building style, size and amenities such as porches, decks, garages, and extra bathrooms affect value estimates. 

13. My assessed value didn't change, but my taxable value increased. Why?

The current sales information for your neighborhood may show no value increase over last year’s value. However, the taxable value is tied to the Consumer Price Index and calculated annually causing an increase in your taxable value. Until your taxable meets your assessed value, your taxable value will continue to increase the CPI or 5%. 

14. I just bought a new home, why isn't my assessed value one half of my sales price?

Michigan law prohibits assessors from basing values on one sale price. We are required to value your property based on the methods used to value other properties in your area. While we hope our value estimate is close to your sale price, it is an estimate and may not be the same as your recent sale.

15. When are my taxes due?

The summer taxes are billed July 1st each year and are due by August 14th without penalties. The winter taxes are billed December 1st each year are due by February 14th without penalties. On March 1st, the delinquent tax rolls are given to the County Treasurer and additional penalties are added.

16. What period do my tax bills cover?

Although the taxing agencies on your bills may have different fiscal years, your bills are for the calendar year in which they are billed. Add your July and December tax bills together for your total annual taxes.

17. How are my taxes computed?

Taxes are computed by multiplying your taxable value times the total mills. A mill is $1.00 per thousand dollars of taxable value. An easy formula to calculate taxes is shown below:

Taxable Value X Mills / 1,000 = Taxes
Homestead 200,000 X 48.6664/ 1,000 = $9,733
Non-homestead 200,000 X 66.6664/ 1,000 = $13,333
(Remember, a homestead is exempt from 18 mills of school operating taxes!)

18. Why are my neighbor's taxes less than mine?

Property taxes are determined individually according to taxable value. If you recently purchased your property, your taxable value was uncapped. Your neighbor’s taxable value may still be capped and less than yours. The assessed values on a property in 1994 became the base value for taxable value calculations starting in 1995. Because properties have been bought and sold at different times taxable values may vary significantly. A lower taxable value means lower taxes.