2014 Assessment Notices
Notice of Assessment Change were mailed on January 24, 2014 to all taxable real property owners in Grand Rapids. This is a notice of the tentative 2014 Assessed and Taxable Values. It is also a notice of the status of Principal Residence Exemption to be applied for the 2014 property tax. Please call our office at 616-456-3081 if you did not receive a notice.
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.
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 2014 is 1.016.
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 2013 will have the Taxable Value set to the Assessed Value for the 2014 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.
Appealing 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. Appeals of property classification should be made to the State Tax Commission.
Important Changes to Personal Property Tax Law Beginning in 2014
Effective December 31, 2013, commercial and industrial personal property with a combined true cash value of less than $80,000 is eligible for exemption. Combined true cash value is the market value of all personal property owned by, leased by, or in the possession of the owner or related entity within a local tax collecting unit.
To qualify for this exemption the taxpayer MUST file the “eligible personal property exemption affidavit” with the local tax collecting unit by February 10th . For the 2014 year only: If the eligible personal property exemption affidavit is not timely filed, the Taxpayer is permitted to petition the March Board of Review for the exemption. These forms must be received in the Assessor’s Office by 5 pm on March 20, 2014. Petitions by fax or electronic media are not accepted. Read More
City Assessor’s Office Continues to be Green
E-Filing of Personal Property Statements for 2014
Owners of taxable personal property in the state of Michigan are required by state law to annually file a personal property statement with the local assessor. Paper statements will not be mailed by the City Assessor’s Office.
Most owners will have 2 options for filing a return: 1) file an electronic statement using the new E-file system, or 2) file a paper statement. Paper statements are available on both the State of Michigan website (www.michigan.gov/treasury) and the City’s website (www.grcity.us/ppstatement). For those owners who do not have access to the internet, paper returns will be made available at the City Assessor’s Office located on the third floor of City Hall at 300 Monroe Avenue, NW.
In place of the paper personal property statement, owners will be mailed a letter on Friday, January 10, 2014. If an owner is eligible to E-file, the letter includes instructions on how to file using either the E-file system or the paper method. For those owners who are not eligible to E-file, the letter includes instructions on how to obtain a paper statement.
Businesses who own personal property located in a renaissance zone are also required to file a Renaissance Zone Report Form. These forms were mailed to eligible taxpayers and are also available on the City’s website (www.grcity.us/rzform).
Please contact the City Assessor’s Office at (616)456-3081 with any questions or concerns.
City of Grand Rapids Ordinance 2013-52
The City Commission of Grand Rapids has adopted Ordinance No. 2013-52 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.