Transparent Assessments for Taxpayers

In Michigan, property is assessed annually by the local assessor to determine its True Cash Value (market value) as of December 31. The assessor reviews property characteristics, recent sales, market conditions, and other relevant information to estimate value. The Assessed Value (AV) is generally 50% of the property's True Cash Value.

A property's Taxable Value (TV) is the value used to calculate property taxes. For property that has not transferred ownership, annual increases in Taxable Value are generally limited to the rate of inflation or 5%, whichever is less, plus or minus qualifying property additions or losses. When a property transfers ownership, its Taxable Value generally uncaps in the following year and is reset to the property's Assessed Value.

Property owners receive a Notice of Assessment each year and may appeal their assessment through the local March Board of Review and, when applicable, the Michigan Tax Tribunal.