Sunday, January 06, 2013

Time to Prepare to Appeal Your Assessment

The Wayne County Taxpayers Association is about to start scheduling our  tri county seminars on “How to Appeal Your Assessment”. The housing market across the state has been tanking. Foreclosures are up for nonpayment of mortgages. They are also up for non payment of taxes. The rules allow foreclosure after two years of nonpayment of taxes. Many people have lost their lifetime investment due to job loss or wage cuts. This is a buyer’s market, if you can find someone to finance you.  Tax increases are expected to be requested at all levels of government.

Many people chose to ignore their right to appeal their SEV (State Equalized Value) because their taxes had been dropping along with their property value. That does not mean that you are properly assessed.  The passage of Proposal A in 1994 limited the taxable value increases to the rate of inflation or 5% which ever is less. Remember, the assessment cap is removed when the property changes ownership. New owners are stuck paying taxes based on the State Equalized Value.
Don’t forget, if you live in the City of Detroit, you must first appeal to the
Board of Assessors before mid February to appeal to the Board of Review in March. Everyone else should call their city or township and inquire when their Board of Review will be meeting. It should be sometime in March. Make sure you do the work necessary to make a successful appeal. You should be able to get sales that have occurred in your area from a local real estate office or the city assessor. You should also be able to see the SEV of other houses in your area and the worksheet they keep on your home to insure accuracy of information.
Home values are starting to increase.  Millages will start to increase because of inflation that may soon get into double digits.  Headlee rollbacks will become a thing of the past and truth in taxation will be the nightmare of the future. How they intertwine will be handled in our seminars.

Please check our  website in the future for a list of the locations at which we will be presenting the seminars. For more information call 313-278-8383.  If you wish to sponsor or hold a seminar please contact us. We will be happy to present to your church group, public service group, large or small. We have a Power Point presentation and the equipment necessary to present the information. We are asking a dollar donation per person to cover the cost of the printed material. We think you will find our presentation worthwhile.