Soon you'll be receiving a "Notice of Assessment, Taxable Valuation and Property Classification" from your local municipality.
It's a good idea to check this statement every year to make sure the homestead exemption is still in place. Many property owners in the State of Michigan who qualify for the homestead exemption do not claim it on the property taxes.
Homestead taxes vs non-homestead taxes can be a substantial difference for some homeowners. If an error has been made you are still responsible to pay the higher taxes until an appeal has been granted.
A homeowner must file for the homestead exemption of the current tax year by June 1 for the summer & winter tax levy. If filed after June 1 but by November 1 a homeowner will qualify for the winter tax levy. For more information, please visit here.
If you are planning to appeal your property taxes make sure you call your local municipality as soon as possible to get an appointment. All residential appeals must start with the March Board of Review.
Suggestions:
- obtain your assessment record and valuation card from your local assessor's office
- review the assessment for any errors. For example, if you are being taxed for 3 bathrooms but only have 2. Or, finished basement vs unfinished basement. This can work against you. Look for anything that could risk increasing your assessment as well.
- be prepared with copies of similar homes that have recently sold & homes that are currently for sale in your neighborhood
Not a homeowner yet? Pass this information along to someone that may benefit from it. They will be very thankful for saving money!
I am your valuable resource for all things real estate. Please reach out if you have any questions.