Home Buying in Imlay City>Question Details

Bob, Home Buyer in 48093

why are the taxes so high???

Asked by Bob, 48093 Sat Apr 9, 2011

Help the community by answering this question:


Good Afternoon Bob!!

If it's a bank owned property it's most likely based on non-homestead tax rate. Which is higher than homestead rates. If you'll give me the address I can check the property for you and let you know.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes Thank Flag Link Sat Apr 9, 2011
Bob, you can also call the township or city office and ask if the taxes are non homestead. They will also tell you what they would be if not.

Good luck
0 votes Thank Flag Link Sat Apr 9, 2011
You did not specify a specific property, so generally speaking Taxes could be shown “high” if the property is not homesteaded. A homesteaded property for an owner occupant will have lower property taxes.
Also, the tax assessment determines the property tax on each property.

The Michigan property tax system is the assessment process by which a property's value is determined. It is regulated by Michigan law.

According to state law, all cities employ a state-certified assessor to discover, list and evaluate all properties within its jurisdiction. The assessor then determines a professional estimate of the fair market or "true cash" value for all real and personal property located within the municipal boundaries.

The assessor does not create value. Value is determined by the market. The assessor studies the sales transactions of the real estate market and appraises all property on the basis of: 1) market trends, 2) Tax Commission guidelines, and 3) state law.

Assessed and State Equalized values can equal the same value. State Equalized Values represent 50% of True Cash Value. These values are determined by market conditions and may increase or decrease accordingly. Taxable Value may be different from the first two values and is affected by Proposal A. It is the Taxable Value, however, that determines the property tax when multiplied by the applicable millage rate

For your real estate questions, contact

Chip Andis
Cell (248) 931-0084


34 S. Telegraph Rd
Waterford, MI 48328
Office (248) 886-0000
0 votes Thank Flag Link Sat Apr 9, 2011
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