Northern Michigan Assessing Services
The following are state laws that may affect you:
- The time to check your homestead status is immediately after you open your tax bill in December. The December Board of Review meets Tues. following the second Mon. in Dec. This is the last chance for correction. If you owned and occupied your property before November 1st of current year and occupy as your primary residence you are eligible for 100% exemption from school operating tax. Rented property is not included.
- Land Split Laws enacted by the State March 31, 1997, require us to apply to the township supervisor (989-832-7882 firstname.lastname@example.org) for approval BEFORE we sell a piece of our property, unless you have approval from the State of Michigan for a subdivision plat. A building permit can not be issued without split approval. Upon approval (it can take up to 45 days), you will receive new parcel code numbers. If the parcel being divided will remain your primary residence a principal residence exemption form must be filed with the new parcelnumber. If the form is not completed the exemption will not tranfer to the new parcel number.
- Voter approval in 1994 brought us proposal A and Two new categories for our assessment language: Assessed Value is increassed or decreased by sales within a twelve month period. The inflation rate multiplier used in 2013 Capped Value Formula is 2.4%.
Local units cannot develop or adopt or use an inflation rate multiplier other than 1.017 in 2011.
- The Calculation of the Inflation Rate Multiplier is set in statute. MCL 211.34d states: (l) "Inflation rate" means the ratio of the general price level for the state fiscal year ending in the calendar year immediately preceding the current year divided by the general price level for the state fiscal year ending in the calendar year before the year immediately preceding the current year.
(f) "General price level" means the annual average of the 12 monthly values for the United States consumer price index for all urban consumers as defined and officially reported by the United States department of labor, bureau of labor statistics.
When a property transfers ownership, the assessed value becomes the new owner's taxable value the year after the transfer. This does give the long time home owner a tax advantage. No longer can we compare our tax bills with our neighbors' comparable home and draw tax dollar conclusions.
Call me if you have any questions. Dawn Gentz