What Does an Assessor Do?
In Michigan, the role of an Assessor is crucial in ensuring fair and equitable property taxation. Here are some specific responsibilities carried out by assessors in the state:
1. Appraisal: Assessors are responsible for determining the market value of real property (land and buildings) and personal property (such as machinery, equipment, and vehicles) within their jurisdiction. They collect and analyze data on property sales, rental rates, construction costs, and other factors to assess the value accurately.
2. Assessment: Using the appraised value, assessors calculate the assessed value, which is a percentage of the market value set by law. In Michigan, property tax assessments are generally set at 50% of the market value for most property types. They ensure that assessments are consistent, fair, and in accordance with state laws and regulations.
3. Property Record Maintenance: Assessors maintain detailed records of all properties in their jurisdiction, including ownership information, property characteristics, and assessment history. They update these records as changes occur, such as property sales, new constructions, or property demolitions.
4. Property Inspections: Assessors conduct physical inspections of properties periodically to verify their characteristics and assess any changes that may affect their value. This involves measuring buildings, taking photographs, and noting improvements or damages to determine accurate assessments.
5. Exemptions and Abatements: Assessors assist property owners in applying for various exemptions and abatements available under Michigan law. These may include exemptions for disabled veterans, religious institutions, charitable organizations, or historic properties. Assessors review applications, verify eligibility, and ensure compliance with the necessary documentation.
6. Taxpayer Assistance: Assessors provide information and guidance to taxpayers regarding property assessments, tax rates, and appeal processes. They help property owners understand their rights and responsibilities, answer inquiries, and address concerns related to property taxation.
7. Assessment Roll Preparation: Assessors compile an annual assessment roll, which is a comprehensive listing of all properties in their jurisdiction along with their assessed values. This roll is essential for budgeting, tax collection, and distributing tax revenues to local governments, schools, and other taxing entities.
8. Appeals and Hearings: Assessors participate in assessment appeals and hearings. Property owners who dispute their assessments can file an appeal to challenge their property's value or classification. Assessors present evidence and defend their assessments during these proceedings.
Overall, assessors in Michigan play a critical role in assessing properties accurately and fairly, ensuring that property taxation is carried out in compliance with state laws and regulations.
1. Appraisal: Assessors are responsible for determining the market value of real property (land and buildings) and personal property (such as machinery, equipment, and vehicles) within their jurisdiction. They collect and analyze data on property sales, rental rates, construction costs, and other factors to assess the value accurately.
2. Assessment: Using the appraised value, assessors calculate the assessed value, which is a percentage of the market value set by law. In Michigan, property tax assessments are generally set at 50% of the market value for most property types. They ensure that assessments are consistent, fair, and in accordance with state laws and regulations.
3. Property Record Maintenance: Assessors maintain detailed records of all properties in their jurisdiction, including ownership information, property characteristics, and assessment history. They update these records as changes occur, such as property sales, new constructions, or property demolitions.
4. Property Inspections: Assessors conduct physical inspections of properties periodically to verify their characteristics and assess any changes that may affect their value. This involves measuring buildings, taking photographs, and noting improvements or damages to determine accurate assessments.
5. Exemptions and Abatements: Assessors assist property owners in applying for various exemptions and abatements available under Michigan law. These may include exemptions for disabled veterans, religious institutions, charitable organizations, or historic properties. Assessors review applications, verify eligibility, and ensure compliance with the necessary documentation.
6. Taxpayer Assistance: Assessors provide information and guidance to taxpayers regarding property assessments, tax rates, and appeal processes. They help property owners understand their rights and responsibilities, answer inquiries, and address concerns related to property taxation.
7. Assessment Roll Preparation: Assessors compile an annual assessment roll, which is a comprehensive listing of all properties in their jurisdiction along with their assessed values. This roll is essential for budgeting, tax collection, and distributing tax revenues to local governments, schools, and other taxing entities.
8. Appeals and Hearings: Assessors participate in assessment appeals and hearings. Property owners who dispute their assessments can file an appeal to challenge their property's value or classification. Assessors present evidence and defend their assessments during these proceedings.
Overall, assessors in Michigan play a critical role in assessing properties accurately and fairly, ensuring that property taxation is carried out in compliance with state laws and regulations.
Buying and Selling Property in Fennville
By ordinance, if you buy or sell a property within the City of Fennville, it must have a building inspection before closing. Please call our Building Department at 269-673-3239 to schedule your inspection.
If you have any questions about the property before you buy and sell, such as age of home, past building permits, etc. you can contact the City to receive that information.
If you have any questions about the property before you buy and sell, such as age of home, past building permits, etc. you can contact the City to receive that information.
Please be aware that in Michigan, the property tax system includes a provision known as "uncapping" which applies when a property is sold. Essentially, the taxable value of the property is "uncapped" and reset to the property's current market value.
Prior to the sale, the taxable value of the property may have been "capped" under the Michigan Property Tax System, meaning that it could only increase annually by a limited percentage or the rate of inflation, whichever is lower. However, once the property is sold, the taxable value is adjusted to the property's current market value, potentially resulting in a significant increase in property taxes for the new owner. Properties which are transferred between family members remain capped.
It’s important for buyers and sellers to be aware of this uncapping process as it can have implications for property taxes post-sale. This adjustment is made to ensure that the property is being taxed at its true market value. Buyers should be prepared for potential increases in property taxes after purchasing a property due to this uncapping provision. If you have specific questions about the uncapping process or its implications for a property in Fennville, please contact the Assessor at 269-591-0289.
Once you have purchased your new property, if this is your primary residence, you may be eligible for a principal residence exemption. Please fill out the form above to receive your principal residence exemption. If you are already receiving it in another municipality or for a different property within Fennville, you must first rescind your right to the exemption for that other property.
Prior to the sale, the taxable value of the property may have been "capped" under the Michigan Property Tax System, meaning that it could only increase annually by a limited percentage or the rate of inflation, whichever is lower. However, once the property is sold, the taxable value is adjusted to the property's current market value, potentially resulting in a significant increase in property taxes for the new owner. Properties which are transferred between family members remain capped.
It’s important for buyers and sellers to be aware of this uncapping process as it can have implications for property taxes post-sale. This adjustment is made to ensure that the property is being taxed at its true market value. Buyers should be prepared for potential increases in property taxes after purchasing a property due to this uncapping provision. If you have specific questions about the uncapping process or its implications for a property in Fennville, please contact the Assessor at 269-591-0289.
Once you have purchased your new property, if this is your primary residence, you may be eligible for a principal residence exemption. Please fill out the form above to receive your principal residence exemption. If you are already receiving it in another municipality or for a different property within Fennville, you must first rescind your right to the exemption for that other property.
What Does the Board of Review Do?
The Board of Review in Michigan is responsible for reviewing property tax assessments and hearing appeals related to property valuation disputes. The board provides an avenue for property owners to contest their assessments and present evidence to support their claims of overvaluation or incorrect assessment. The board evaluates evidence and arguments presented by both the property owner and the assessor's office before making a decision on the appeal. The primary goal of the Board of Review is to ensure fair and accurate property assessments in compliance with Michigan law.