The taxable status of real and personal property for a tax year shall be determined as of each December 31 of the immediately preceding year, which is considered tax day. An assessing officer is not restricted to any particular period in the preparation of the assessment roll but may survey, examine, or review properties at any time prior to or after the tax day.

When market value changes, naturally so does assessed value. For instance, if you were to increase the total market value of a parcel of property by building a garage, the assessed value would increase proportionately. Similarly, should a property value be decreased because of a fire or other catastrophe, the assessed value would decrease to show the downward effect of the damage on the market value of the property.

The economy of the entire community affects assessed value. For example, over the years more property owners have rehabilitated or invested in new construction in and around the City of Perry; and all property values within the City have increased. This can easily be seen by looking at the asking prices of properties that are currently for sale on the open market and by finding out what properties have actually sold for within the City of Perry.

The Assessor has not created this value, he simply has the legal/responsibility to discover it as it exists and appraise property accordingly. People make value by their transactions in the market place.

An Assessment is 50 percent of the appraised value done by an appraiser using “mass appraisal methods,” and is limited by the current State Standards for Mass Appraisal and the amount of funding provided for government assessment work.

Market Value, determined by Fee Appraisals, is completed by using the most current sales to arrive at a “Current Market Value.” The intended purpose of this type of appraisal may require a much more detailed review of various elements of the appraisal process and methods and how those impact value.

No. Taxable Value, once established, can only rise by the Consumer Price Index to a maximum of 5 percent per year.

Assessed Values for some neighborhoods may experience a greater gain than the CPI or 5 percent because they are 50 percent of the True Cash Value/Market Value.

Appeals can be started at the Assessment Office, then the Board of Review and finally with the Michigan Tax Tribunal. Proceeding in this order is critical for advancement to the next level, and in many cases the next level is more formal and further away.

Contact our office for more details.

Homesteads are properties that serve as your principal home. They are not cottages, summer homes, etc. Homesteads are the property at which you reside and receive your mail, etc. for the majority of the year.

The State Education Tax is removed on these properties when you declare them to be your “Homestead” and therefore your property taxes are reduced. You may not have more than one “Homestead.”

You must file the Homestead Form with the local Assessor and meet the “Own and Occupy by May 1st” standard test. If you do, the tax reduction will occur with the summer and winter billings in that year.

Yes. Submit a completed form immediately. Some people may not qualify for the current year, but may in the next. Each case is reviewed individually and may have circumstances that allow for previous years to be corrected. Without an application no action is taken.

No. This attempt to receive a dual benefit can result in full taxes being levied on both properties for all previous years, due and payable immediately, a severe penalty and shock to one’s budget.

Yes. However, if at some point you declare yourself a Florida resident and/or are spending more than 6 months there, then you may no longer qualify for the Michigan Exemption.