I just bought my property. Why isn’t my assessment exactly half of the sale price?
Michigan law defines true cash value as the usual selling price. The Michigan Legislature and the Michigan Supreme Court have clearly stated that the actual sales price of a property is not the controlling factor in determining true cash value and calculating the assessed value. The Department of Assessing analyzes several sales in each neighborhood to arrive at uniform and equitable assessments for all properties.

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1. How do I read my Assessment Notice?
2. Where can I find information about a piece of property?
3. What do the terms assessed value, state equalized value, and taxable value mean?
4. How does the assessor determine my assessed value?
5. I just bought my property. Why isn’t my assessment exactly half of the sale price?
6. Why doesn’t my assessment appear to reflect current market conditions?
7. How can my taxable value increase when my assessment stays the same or decreases?
8. What is a Principal Residence Exemption?
9. What is personal property?
10. Where and when do I file a personal property statement?
11. What if I don’t file a personal property statement?
12. What type of information do I include on the personal property statement?
13. What if some of my equipment is used equipment?
14. My accountant has fully expended some items of personal property. Do I report it?
15. What if I move or close my business during the year?