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    What is an Assessment Notice?
    Notices of Assessment Change are mailed the third week of January to all taxable real property owners in Grand Rapids.  This is a notice of the tentative current year Assessed and Taxable Values.  It is also a notice of the status of Principal Residence Exemption to be applied for the current year property tax.
    What is Assessed Value?
    The Assessed Value shall not exceed 50% of the True Cash Value of the property.  The Assessor’s Office uses mass appraisal techniques to determine the true cash value of each property every year and sets the Assessed Value at 50% of the True Cash Value.  The True Cash Value of a property is synonymous with market value.  The Property Record Card contains the characteristics of the property and the calculations used to determine True Cash Value of the property for the current tax year.  Click here to request a copy of the Property Record Card.
    What is Capped Value?
    Capped Value is a calculation of the previous year’s Taxable Value multiplied by the Inflation Rate Multiplier and adjusted for any physical changes in the property.  (The inflation rate multiplier is based on a two year average of the Consumer Price Index CPI).  The Inflation Rate Multiplier for 2017 is 1.009.
    What is Taxable Value?
    The Taxable Value is determined by the lower of the Assessed Value or the Capped Value.  Properties that transferred ownership in 2016 will have the Taxable Value set to the Assessed Value for the 2017 tax year.
    Taxable Value is the basis of the property tax in Michigan and is multiplied by the millage rate to determine the tax amount each year.
    What is State Equalized Value?
    State Equalized Value (SEV) is the final Assessed Value after the County and State have completed their equalization processes and have certified the Assessed and Taxable Values.  Typically, the SEV is the same as the Assessed Value.
    How do I Appeal Assessed Value?
    The opportunity to appeal the Assessed Value begins with the Assessor’s Review held during the first full two weeks in February.  The City of Grand Rapids Charter requires an appeal to the Assessor’s Review prior to any appeal to the local March Board of Review.  Appeals must be made on the City’s Appeal form.  Only those property owners that appealed at Assessor’s Review may have the opportunity to appeal to the March Board of Review.  The March Board of Review has jurisdiction over the current year assessment. If dissatisfied with the action of the March Board of Review, the property owner may appeal further to the Michigan Tax Tribunal. 
    What is the Principal Residence Exemption? 
    The Principal Residence Exemption (PRE) is an exemption from the portion of the property tax levied by a local school district for school operating purposes, up to 18 mills. To qualify for a PRE, a person must be a Michigan resident who owns and occupies the property as their principal residence, and must file the PRE affidavit with the Assessor’s Office.
    What is a Transfer of Ownership? 
    The State Tax Commission has developed guidelines defining a Transfer of Ownership.  Please click here to link to their publication.  In the tax year following a Transfer of Ownership, the Taxable Value is set to the State Equalized Value (SEV).
    What to Expect in a Declining Market
    City of Grand Rapids Ordinance 2014-77
    The City Commission of Grand Rapids has adopted Ordinance No. 2014-77 which makes it a criminal misdemeanor offense to knowingly write, cause to be written, or permit to be written any false, incorrect or inaccurate information on any document, record or form required to be filed with the City Assessor.
    Furthermore, no person shall knowingly file or cause to be filed with the City Assessor any document, record or form containing any false, incorrect or inaccurate information.
    The Grand Rapids City Attorney will prosecute such offenses in the 61st District Court.