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2018 Michigan Property Tax Review: Is Your Property Being over Assessed?

January 19, 2018
Tax Advisory

Michigan property values have been relatively stable in recent years. In certain cases, this type of stability will result in predictable and stable property tax assessments. However, there are many instances, including those involving transfers of ownership, in which both real and personal property tax liabilities continue to increase – often at alarming and excessive rates.

Annual Assessments and Appeal Deadlines

In the next several weeks, local tax assessors will be mailing annual property tax assessment notices to property owners/taxpayers. These notices can be confusing, but they are a critical part of the tax assessment process. Taxpayers should review their property tax assessment notices carefully to check for errors (such as property address or square footage details) and to evaluate whether their property might be over assessed. 

If the assessment is too high, the property tax liability will be overstated and a property tax appeal may be required to eliminate the over assessment. The annual tax assessment notices disclose both the "assessed value" and "taxable value" of the property for the current and prior tax year. And while "taxable value" is the critical factor, both items should be reviewed to ensure accuracy. In conducting this review, taxpayers should be cognizant of certain deadlines related to potential appeals. Missing a deadline could preclude an otherwise viable appeal. In addition, certain exemptions require filings to be made (e.g., the personal property tax exemption for manufacturing property).

Upcoming 2018 property tax deadlines related to commercial, industrial and residential property include the following:

February/March 2018

Assessors mail annual real and personal property tax assessment notices to property owners/taxpayers.

February 10, 2018

Deadline to file Form 5076, application for exemption of eligible small business personal property.

February 20, 2018

Deadline to file Form 5278, application for exemption for eligible manufacturing property.

February 20, 2018

Deadline to file Form 4175, the standard personal property statement.

March 2018
(dates vary by jurisdiction)

Appeals to local Boards of Review are a jurisdictional prerequisite to further appeal for residential, agricultural and timber real property assessments and property classification appeals. Appeals to local Boards of Review for other types of property tax matters are discretionary.

May 31, 2018

Deadline for assessment appeals to the Tax Tribunal for commercial and industrial real property and personal property.

June 30, 2018 Deadline for appeals of classification decisions from the March Board of Review to Michigan State Tax Commission.
July 31, 2018 Deadline for assessment appeals to the Tax Tribunal for residential real property.

Varnum property tax attorneys have successfully represented taxpayers in a wide variety of property tax matters and tax appeals, including appeals to reduce the taxable, assessed and state equalized values of commercial, industrial and residential properties, to establish entitlement to property tax exemptions, and to correct errors and classifications. If you believe that your property taxes are excessive, please contact us to discuss how you might be able to reduce these liabilities.

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