Property Q&A in 48017>Question Details

M, Home Seller in Michigan

Hi I am wondering how I can go about get my taxes lowered as the value of my home has gone down.

Asked by M, Michigan Mon Jan 12, 2009

I bought my home in 2002 and know there is no way it is worth the price I paid then (right now I'd be lucky to get 3/4 of what i paid). Is there any way i can get it reassessed so I can give my self a break (and pay taxes closer to the value of what the home is worth now) while saving up to buy my way out of my house.


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Jeff is mostly correct ... but a lower assessment could in-fact get you closer to a reduction in your property taxes. The key is the taxable value, since that is the multiplier to the millage rate (which is fixed). I have appealed taxes for many clients, and I have yet to NOT see a reduction when doing so. There is another key component ... very key. Your taxable value can NEVER exceed your SEV!!!

Again, per my post, if you would like me to look at your specific situation closer I would be happy to do so and will provide you advice. If you are located in the metro Detroit area (Macomb, Livingston, Wayne, Washtenaw, or Oakland county), please email me.
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0 votes Thank Flag Link Tue Jan 13, 2009
Tax appeals will be heard after you have received your 2008 assessment notice. The date for appeals will depend on your location. Our brokerage firm is holding a free seminar on how to appeal your property taxes. The seminar will be held on several different dates and in different office locations in February. Please contact me if you would like additional information on this opportunity or to discuss appeals in general.
0 votes Thank Flag Link Mon Jan 12, 2009
Hello, M!

Although not all municipalities are lowering the taxable values of property, some in-fact are. Each situation is different, and the broad information you received below from my colleagues is correct.

If you would like an analysis specifically of your situation, feel free to email me, and I will explain more about the process and what your options are.

Derek Bauer, Associate Broker / Realtor
Real Estate One
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0 votes Thank Flag Link Mon Jan 12, 2009

You will get a new assessment notice in February. It is likely that your assessment came down. The notice usually contains the information for scheduling an appointment with the board of review. If you think you are still over assessed then schedule an appointment.

If you are selling, it is important to go, because you can set your home apart by having a lower SEV than other houses.

I usually help clients by preparing comps for them of recent sales. Do a bit of homework before you go.

Property taxes are headed up this year because we are taxed on the rate of inflation, up to 3%, so even though home values are falling, taxes won't move down quickly.
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0 votes Thank Flag Link Mon Jan 12, 2009
Maureen Fran…, Real Estate Pro in Birmingham, MI
Hi M
Most cities will hear arguments on lowering taxes between March and May once the assessments for the year come out. Each city varies. You may want to call city hall and find out their process.

You need to have as much supporting documentation as possible related to comparable sales in the last 12 months in your neighborhood. Perhaps speak to the realtor who sold you the home and see if they can pull sales. Or else, if you have gotten an appraisal done in the last 6 months that will help too.

Good luck!
0 votes Thank Flag Link Mon Jan 12, 2009
M, you can visit your local Township Board of Review. Be prepared to have recent comparable home sales that demonstrate the value you think your home is worth and perhaps even a recent appraisal. I believe Board of Review happens in March but watch your mail for the notice. Good luck!
0 votes Thank Flag Link Mon Jan 12, 2009
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