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.
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
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.
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.