On Friday March 20th many Ann Arbor residents met at the Scio Township Hall to appeal their property taxes before a three person Board of Review. Each party was given a few minutes to state their case and had to leave without learning whether or not their appeal would be granted.
Larry and I were among those waiting to appeal and MLive was there to follow our journey. We have two homes in Dexter MI, one housing our office for the Toth Team and another that we rent out. According to the law the value assigned to a property should be 50% of its market value. The Scio Township Board of Review however is looking for each person “to prove to us, in their terms, why they think it’s wrong”. Our properties decreased some but not in accordance with the 50% rule. Foreclosures have greatly affected the marketplace bringing average values down across the board. Our rental property assessment equated to an approximate market value of about $154,600 when in actuality it’s closer to $100,000. The assessment on the other home equated to about $141,800 instead of the $125,000 it might sell for. We used comparable sales to argue the point – hopefully the board will reconsider our assessed values. Just like other Ann Arbor homeowners, we’ll have to wait for an announcement by mail in the coming weeks.
This is an all to common story across the state of Michigan. Falling real estate values statewide are causing many to appeal tax assessments. Taxpayers and local governments alike are both frustrated. Appeals are up about 25% in the Scio Township which means local government revenues are going to drop.
To appeal your assessment, call your local assessor. For Ann Arbor residents, the number is 734-794-6530.
Local board of review decisions can be appealed to the Michigan Tax Tribunal. The letters with local board’s decision contain information about how to appeal. Appeals must be filed by June 30.
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