Ann Arbor Property Tax Assessments: A Repost

repost Originally posted in March of 2008.

A Nutshell Lesson from Randy Repicky

Team366 Real Estate Rooster

Last year, this blog covered the impending Board of Review time line that every Michigander has to appeal their property tax assessments. Kind of like that bag of Bates’ burgers you had earlier today, it’s baaaacckk!

If you haven’t already, you will be receiving from your local municipality that fun, one page document from your municipality telling you that your property value has moved in some direction. If you are like a majority of Michiganders, you are likely staring at this document in disbelief.

Disbelief because it says right there in black and white that the value of your home dropped, but your taxes went up!

“What the deuce,” you might be saying. Or, “How do I appeal this insanity?”

A great article was recently sent to my attention that does a great job of explaining the how and why of the Review Board and how to effectively fight your assessment. From the article:

There is one and only one question that typically matters with a Board of Review… do the SEV(State Equalized Value) or Taxable Value exceed 50% of the market value of the property? Things that are irrelevant and not actionable by the Board of Review include: taxes going up while values are dropping; and the fact that subject property taxes are higher than taxes of neighbors, the fact that a property owner feels her taxes are excessive. Even if the taxpayer is right, it doesn’t matter. What does matter for Board of Review purposes and for a decision that will affect this year’s taxes is that the taxpayer shows their new Taxable value is greater than 50% of the market value of their home as of the December 31st of the prior year.

To lower my 2008 taxes, I need to demonstrate to the Assessor and Board of Review that my Taxable Value exceeds 50% of the market value of my home as it sat on December 31, 2007. Be focused. For practical purposes, Nothing Else Matters!

Sage advice! All that matters is showing the Board of Review that your Taxable Value exceeds 50% of the market value for your home.
Thanks to Randy Repicky for permission to recreate his article and use it here.

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